Fidelidade buys Yotel Porto

 In Hotel, News

The Yotel Porto has been acquired by insurer Fidelidade via its real estate fund IMOFID.

IMOFID is an open real estate investment fund which is 100% held by Fidelidade. It bought the hotel for €28 million. It also owns some of the choicest real estate assets in Portugal in sectors such as offices, retail and hotels in urban locations.
According to the newspaper Negócios, the hotel sale went through in April for the precise sum of €28,267,731.94.
Located in the historic old town, the Yotel Porto covers a 7794 m2 area and boasts innovative robot room service technology.
Apart from this acquisition, the Fidelidade also acquired two buildings in Spain (Madrid and Barcelona) — the Trianon building in Madrid with 19,917 m2 for €57.1 million in June. In Barcelona it purchased the headquarters of OCA Global, with 4,800 m2 at a cost of €13 million.
IMOFID’s total investment was €100 million in the two countries. The fund has almost €300 million of property assets under management.