Engel & Völkers buys the 7Pines hotel in Ibiza for 130 million euros
The company Engel & Völkers has acquired the luxury hotel 7Pines in Ibiza for a value of 130 million euros in an operation advised by the company EY (Emst & Young).
Until now, the luxury hotel was owned by German nationals, 12:18 Investment Management in which they are specialists in real estate investments, hotel management and tourism. In 2017, they invested 74 million euros to start up their first hotel and keep it open 365 days.
The goal of Engel & Völkers
It is undoubtedly one of the most important real estate agencies on the island of Ibiza in the luxury residences sector. Growing abysmal, it has allowed it to gradually increase its services and line of business in the sale and rental of hotels, offices, premises and housing complexes on the four Balearic Islands.
With the 7Pies hotel, it is one of the most exclusive hotels in Ibiza and the entire Balearic Islands, located on the west coast in the municipality of Sant Josep de Sa Talaia, with views between Platges de Comte and Cala Codolar, with an area of 56,000 square meters and qualified as a 5-star hotel.
Its facilities have a total of 185 rooms, 3 bars, 3 restaurants, a spa center and wellness services, a children’s club and 3 swimming pools.
A big bet by Engel & Völkers to make 7Pines even more exclusive and, in turn, give more value to high-luxury hotels on the island of Ibiza.