A leading Qatari bank and a regulated investment fund have acquired Barcelona's OneOcean Port Vell (OOPV) marina from the Salamanca Group for an undisclosed sum.
The bank is QInvest LLC, a leading Qatari investment bank and one of the Gulf Co-operation Council’s most prominent financial institutions. It has bought OOPV through its wholly-owned subsidiary BOH LLC and in conjunction with its partner, a regulated investment fund beneficially-owned by the Vagit Alekperov family.
The purchase follows an agreement reached with the current owner, Salamanca Group, the privately-held merchant banking business, that has developed OOPV and transformed it into the leading marina in Barcelona. Salamanca Group identified it was now appropriate to bring in strategic owners that have the profile and local presence in Barcelona to invest in and further develop such a distinguishing hallmark of the city.
In this regard, QInvest has an extensive and successful investment track record in the real estate and infrastructure sectors in Barcelona. A dedicated team combining the expertise of both joint venture partners will focus on managing and overseeing the growth of OOPV to maintain and enhance its positioning within the European superyacht marina market.
Tamim Hamad Al-Kawari, CEO of QInvest, said: “We are very pleased to be leading the new ownership of One Ocean Port Vell. As one of the most prestigious marinas in the region, situated in one of Europe’s leading cities, we are confident about its prospects for the future.”
Craig Cowie, head of Real Estate Investment & Advisory at QInvest, added: “This is a good asset which we have supported for a number of years. Following its extensive redevelopment in recent years, OOPV now has significant potential for growth and we are committed to working hand-in-hand with the regulatory authorities (including the Barcelona Port Authority), the wider local community and all other stakeholders to support its continued development and success.”
This announcement follows on from a number of investments QInvest has made in Europe across multiple asset classes and geographies.
Paul Cook, general manager of OneOcean Port Vell, said: “This is excellent news for OneOcean Port Vell. The vision of the new board will allow us to build on and consolidate the marina as a leading winter home port and summer destination for superyachts.”