
Ona Alborada
LOCATION
Av. de Fernando Salazar Gonzalez, S/N,
38631 Las Galletas, Santa Cruz de Tenerife, Spain
ASSET DESCRIPTION
Acquired in 2022, the Alborada Ocean Club resort features 400 ocean-view apartments, with Sparta Properties owning 282 units. Located on the southern coast of Tenerife, the largest of Spain’s Canary Islands and a premier European tourist destination, this hotel complex includes a dining area, gardens, bars, and a 34,400-square-foot rock-side natural seawater swimming pool, the largest in Europe.
Sparta Properties is executing a $22 million capital expenditure project to upgrade and modernize the property, which is one of the largest integrated resorts in the Canary Islands, capitalizing on the region’s growing popularity. As of March 2024, the Canary Islands saw record foreign arrivals, with 4.3 million visitors over three months, a 14 percent increase from 2023. The resort benefits from its proximity to Las Galletas, a shopping destination less than 200 feet away, and a nearby local airport.