Andbank has launched a new investment vehicle, the Actyus Hospitality Fund II, with a strategic focus on Spain’s hotel sector. This fund aims to raise up to €100 million in equity, with a total deployment target of €200 million through a mix of equity and debt. The fund’s primary objective is to acquire five to six three- and four-star hotels, representing approximately 1,000 rooms, primarily located in popular sun-and-beach destinations such as the Balearic Islands, Canary Islands, and Costa del Sol.
Targeting Established Destinations for Stable Returns
The Actyus Hospitality Fund II will concentrate its acquisitions on established hotels in these areas, with a focus on generating stable returns for its investors. This strategy is underpinned by the success of Andbank’s previous hospitality fund, which invested €120 million in equity and debt in four-star hotels. The fund completed the first divestment in May with the sale of the Hotel San Fermín in Benalmádena, Málaga, to hotel group Dorobe. The property, which has undergone several full refurbishments over its five-decade history, is regarded as an important asset in the development of the Costa del Sol’s tourism market.
Expanding Alternative Investment Platform
The Actyus Hospitality Fund II is managed by Actyus Private Equity, Andbank’s alternative investment arm. The fund’s depositary will be handled by Banco Inversis, with Deloitte acting as the auditor. The fund is open to high-net-worth individuals and private banking clients, with a minimum investment of €250,000 for Andbank clients and €10,000 for MyInvestor clients. These investments are subject to personalized investment advice and applicable wealth criteria.
Related: Spain Rises in Global Real Estate Market
This new fund expands Andbank’s growing range of alternative investment products and further strengthens the group’s exposure to Spanish real estate. Late last year, Actyus partnered with Urbanitae to launch Promourbanitae II, a vehicle focused on investing in residential and other real estate projects developed by qualified operators in Spain. More recently, Andbank and Colonial brought Naturgy’s headquarters to the stock market. The asset joined BME Scaleup on 12 June with an estimated value of €49 million and a €34.55 million mortgage loan. The property comprises 13,204 square metres of lettable space across two buildings, with the main building occupied by offices and the second housing critical facilities such as a gas control centre, an electricity grid backup control centre, and a data processing facility. The complex also includes 253 parking spaces.
With the launch of the Actyus Hospitality Fund II, Andbank seeks to build on its previous experience in the Spanish hotel market, targeting assets in some of the country’s most established tourism destinations, particularly the Balearic Islands, the Canary Islands and the Costa del Sol.
