Global IPO volumes fell 46%, with proceeds down by 58% 1H year-over-year. With global activity almost halved in YTD 2022, the Americas market recorded the biggest decline. Middle East and India were some of the rare bright spots amidst a bearish market.

The seed portfolio will comprise c. 28,400 sq ft of new, high-quality space.

The developments will be completed in the first quarter of 2025.

According to JLL's 2022 Global Real Estate Transparency Index

Aside from pricing out many renters, the increases could have knock-on effects amid broader inflation pressures.

The property is located in Alcala de Henares on the strategically important Corredor de Henares in the northeast of Madrid.

The proceeds of the bond issue will fund sustainability elements of The Ellinikon, including green buildings and infrastructure, green energy and smart-city technologies.

The hotel's interior design has been entrusted to the Polish design firm Tremend.