Distressed real estate project located in Benhavis, Spain (next to Marbella),  which can be repurposed to a branded serviced apartment concept. The project has been developed (substructure completed, 25% completion) and was locked in litigation for several years. The project comprises of 86 apartments and conceptual drawings have already been developed. It is further the intention to develop a branded residence and first discussions with Kempinski have been taken place. Expected profit: EUR50m.