King & Wood Mallesons has advised Mazabi Gestión de Patrimonio on the acquisition of two hotels, the Iberostar Santa Eulalia, located in the Ibizan town of S'Argamassa, and Iberostar Costa del Sol, Málaga, which will open next year.

The deal, valued at €60 million, includes the acquisition of both properties and the subsequent lease agreements of both complexes to the Iberostar Group, who will manage and operate both hotels.

Enrique Isla, Real Estate partner at King & Wood Mallesons, said: “We are proud to have worked on this complex deal which involved jointly negotiating the contract of sale with the seller and the lease with Iberostar, and we are pleased to have supported Mazabi on these strategic acquisitions".

The King & Wood Mallesons team was comprised of Real Estate partner Enrique Isla; together with senior associate Marta Orce, and Corporate partner Roberto Pomares; together with senior associate Teresa García.

King & Wood Mallesons has advised Mazabi in a number of deals over the last five years. Mazabi manages a portfolio of more than €750 million distributed between Europe, Latin America and Middle East.