Deka Immobilien sells five-star hotel in Mallorca

Deka Immobilien has completed the sale of the Jumeirah Port Sóller Hotel & Spa on the Spanish island of Mallorca. The buyer is Dubai Holding LLC, which acquired the property from the portfolio of the WestInvest InterSelect. The parties did not disclose the purchase price.

Located on the island’s northwest coast, the asset comprises a hotel with 121 rooms, including 15 suites, as well as 58 parking spaces. The transaction also includes an adjacent undeveloped plot that may be designated for local recreation and nature conservation, or used to a limited extent for agricultural purposes. Deka Immobilien acquired the property in 2007. It is fully leased on a long-term basis to Jumeirah Port Soller Mallorca, S.L.. The hotel holds Leadership in Energy and Environmental Design (LEED) Platinum certification.

According to Deka Immobilien, the disposal reflects active portfolio management and takes advantage of continued investor demand for hotel assets in Mallorca. The transaction is expected to contribute positively to the performance of the WestInvest InterSelect fund.