The market for Flexible Accommodation in consolidated tourist destinations such as the Costa Brava continues to show a remarkable dynamism, not only in terms of operations, but also in the area of investment and divestment of assets. A clear example of this activity is the recent sale by Elaia Investment Spain of its portfolio of tourist flats in L'Estartit, in the province of Girona.
Elaia Investment, the French group's Spanish hotel investment vehicle Batiparthas transferred ownership of 98 flats located in two key residential complexes: Els Salats and Jardins del Mar. The buyer of this significant portfolio has been a family officealso of French origin, a detail that reaffirms the strong interest of French capital in tourist assets on the Spanish coast.
Although the exact amount of the transaction has not been disclosed, this operation marks a milestone in Elaia Investment's strategy. The company had acquired these flats in 2019 with the aim of optimising its management, renewing the units and consolidating a product of Flexible Accommodation quality in one location prime on the Costa Brava. The management of the flats was in charge of the brand Sleep Estartit.
This divestment allows Elaia Investment to capitalise on the value created in its portfolio over the last few years and, foreseeably, to refocus its resources on new investment opportunities in the hospitality sector, where Batipart remains a major player, also through its asset management company Extendam.
The operation underlines several key points of the current market:
- Attraction of international capital: The Costa Brava continues to be a magnet for investors, especially those who want to invest in the family offices looking for stable assets with potential for profitability in the Flexible Accommodation.
- Investment cycles: It demonstrates the usual "buy, improve and sell" cycle that investment funds use to generate value in their portfolios.
- Market consolidation: Transactions of this type contribute to market consolidation by placing already optimised portfolios of assets in the hands of new entrants.
The sale of the flats in L'Estartit is a testament to the health and liquidity of the property market. Flexible Accommodation on the Costa Brava, a sector which, beyond day-to-day management, continues to be an active playing field for real estate investors.
