Redevco, one of Europe’s largest privately owned urban real estate managers, has entered the European hotel market with the acquisition of six assets across Spain and Portugal for more than €80 million ($78 million).
The investments in Lisbon, Bilbao, Seville, Porto, and Malaga are to seed the launch of Redevco’s Next Gen Stays joint venture platform. The goal of the strategy is to capitalize on the post-pandemic resurgence and growth in the youth tourism and experience travel market and aggregate a professionally managed portfolio in a sector that is evolving and expanding rapidly. Next Gen Stays fits Redevco’s strategic focus on creating vibrant places in dynamic urban locations and thereby helping cities to become more livable and sustainable.
The Next Gen Stays investment strategy is targeting a net levered IRR of 15 percent-plus over a five-year period. Redevco is acquiring strategically located underexploited real estate with local chara
