Spain's Millenium Hotel Real Estate acquires Bilbao property

The Melia Bilbao, which is located next to the Guggenheim Museum in Bilbao, Spain, has 211 guestrooms. Photo credit: Melia

Spain-based Millenium Hotel Real Estate Socimi has acquired the Melia Bilbao hotel, located on Lehendakari Leizaola street in Bilbao, Spain. The hotel is in front of the Euskalduna Palace and the Iberdrola Tower and next to the Guggenheim Museum.

The company reportedly paid more than €49 million for the hotel, which has 211 guestrooms, three restaurants, a large common area as well as a wellness center with a gym and a semi-outdoor heated pool. For events, the hotel has seven meeting rooms with a maximum capacity of up to 300 people. The property has a total footprint of more than 19,600 square meters.

Millenium purchased the property with its own resources as well as with a secured loans mortgage from Bilbao-based Kutxabank for a total of €24.6 million. 

According to its website, Millenium Hotel Real Estate Socimi has a portfolio of seven hotels.