Alternative asset manager Limestone Capital has purchased Axel Hotel on Calle de Atocha, Madrid from Hotel Investment Partners.
Situated between Plaza Mayor and Park Retiro, the avant-garde hotel has a rich history and has 88 well-appointed rooms. Axel Hotel features a rooftop pool and bar and restaurant.
This is Limestone’s second hotel acquisition in Spain, solidifying its presence in the dynamic Spanish market.
Benjamin Habbel, CEO of Limestone Capital, says, “This acquisition represents a great milestone for Limestone Capital by expanding our presence in Spain and adding another urban destination to our European portfolio. We are deeply committed to the growing hospitality sector in Europe and actively exploring numerous avenues for value-add acquisition and growth.”
Limestone Capital Co-founder Jeff Coe adds, “Madrid has shown strong growth in the hotel real estate market over the past few years, and that growth will continue by being a key European Capital and gateway city to the Americas. We are actively looking for unique assets in unique locations, and this hotel in Madrid fits perfectly within that strategy”.
Limestone Capital aims to deliver unparalleled hospitality experiences to travellers in prime European destinations.
