GS Bacares Iberia Acquires Nômade Temple Madrid for 105 M€

GS Bacares Iberia, S.L. has completed the acquisition of the Nômade Temple hotel in Madrid, sold by Hotei Properties Group Socimi, in a deal finalized for a fixed 105 M€, plus an earn-out of up to an additional 10 M€.

Datos de la operación: precio total, 105 M€ · precio por habitación, 1.129.032 € · precio por metro cuadrado, en torno a 16.181 €/m² (sobre ~6.489 m² construidos) · 93 habitaciones.

Partes: comprador, GS Bacares Iberia, S.L. · vendedor, Hotei Properties Group Socimi.

Histórico: En 2022, Millenium Hospitality Real Estate (SOCIMI) adquirió el activo por 70 M€ (752.688 €/llave sobre 93 habitaciones). El edificio data de 1915, su última reforma es de 2026.

Transaction details: total price, 105 M€ · price per room, 1,129,032 € · price per square meter, around 16,181 €/m² (on ~6,489 m² built area) · 93 rooms.

Parties involved: buyer, GS Bacares Iberia, S.L. · seller, Hotei Properties Group Socimi.

Background: in 2022, operating as Iberostar Las Letras Gran Vía with 109 rooms, the asset was acquired for 70 M€ by Millenium Hospitality Real Estate (SOCIMI) — the same entity that, following its name change on June 30, 2025, is now selling as Hotei Properties Group Socimi. The building dates back to 1915, with its most recent renovation completed in 2026.

Analysis: the transaction places Nômade Temple at the high end of the Madrid hotel investment market in terms of price per key, surpassing one million euros per room and reinforcing institutional interest in prime, distinctive assets in the capital.