Azora acquires two urban hostels in Dublin and Barcelona

Azora, the Madrid-based European real estate investment manager, has completed the acquisition of two hostels located in Dublin and Barcelona on behalf of its Azora European Hotel and Lodging Fund (AEHL) through a transaction with a fund managed by BlackRock.

The portfolio, which comprises the Jacobs Inn Dublin and the Jacobs Inn Barcelona, is currently operated by Siggis Capital. The assets are sold unencumbered and will be operated by Latroupe, the boutique hostel operator owned by AEHL, which aims to redefine the concept of urban accommodation by combining the comforts and facilities of a large hotel with the atmosphere and vibrancy of a traditional hostel.

Latroupe was created in 2021 and manages a hostel portfolio comprising three assets in Madrid, Bilbao and Brussels, with a combined 700 beds. This transaction will broaden the platform’s European footprint and add more than 550 beds to its portfolio. All assets operated by Latroupe are located in the city ce