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Description


Elaia Investment Spain, Socimi, S.A. (“EIS”) is a Spanish real estate investment vehicle (REIT) focused on tourism real estate assets and subject to the SOCIMI spanish tax regime.


EIS was set up in December 2015 and manages a portfolio composed of tourism and residential assets, valuing more than €192.5 millions as at June 30th, 2018. The company was floated on the Spanish stock exchange (MAB) during the last quarter of 2017.

EIS has an initial investment target of €280 millions allocated between tourism properties (80%) and residential properties (20%) in Spain. As of today, the portfolio is composed of 15 assets for a total committed investment cost of €212 millions.

Since the beginning of its activity, EIS has been implementing a value generation strategy, including repositioning the acquired assets by refurbishment projects, just like the implementation of partnerships with top-tier European operators. In August 2017, Batipart Immo Long Terme (Batipart Group) has acquired from Eurosic a 66% stake in EIS, thus becoming its major shareholder. This operation will enable EIS to pursue its investments and become a reference player on the Spanish tourism real estate market.