Alva Park, Lloret de Mar, Spain
Excelion is trying to sell apartments at the property at a price of about €300,000, while the market valuation of these apartments according to idealista.com is €201,124.After failing to sell apartments, Excelion decided to manage the project as a hotel through the Spanish company Smart Rental. At the same time, Excelion owes large sums to lenders, and is unable to pay interest on the loans. However, today the apartments in Smartr Lloret de Mar hotel - the new name for the failed project - are rented at a reduced price - about half the price of similar apartments in the area (see photo above). The hotel has a rating on Booking.com of 7.3.
- Property Owner: Vlad Nemirovsky via Lloret Capital Invest sl & MGR Capital LTD
