Marbella’s iconic Incosol hotel now has a reopening date following a higher spend than previously announced

The second phase has been finalised after Ilanga Capital - the private equity firm led by Pelayo Cortina Koplowitz that is behind the project - announced the signing of a senior financing agreement with real estate at Goldman Sachs Alternatives worth 145 million euros.

The total investment will amount to 260 million euros - 90 million more than initially announced - and will be used to bring Oakmond to life in Marbella; this will be the name of the new Incosol, which has been presented as "an advanced longevity platform".

Ilanga Capital has stated that Oakmond is “entering its main phase of development”, backed by an asset and capital base in excess of 400 million euros. This figure comprises the firm’s investment and the senior financing provided by Real Estate at Goldman Sachs Alternatives, together with the value of the unique property assets (‘trophy assets’) incorporated into the platform.

Within this framework, the project’s implementation budget stands at around 260 million euros, of which Goldman Sachs will contribute 145 million in the form of a loan and Ilanga Capital the remainder in the form of equity. “This financial strength will contribute not only to the completion of the works, but also to the consolidation of the brand, the roll-out of clinical operations and new lines of research into longevity,” stated the company founded by Pelayo Cortina Koplowitz, who is also CEO of Oakmond.

Following completion of the design, planning and licensing stages in 2025, Ilanga Capital has confirmed that construction of the project will begin this coming autumn; therefore, given that the estimated duration of the works is 36 months, the complex is scheduled to open in the third quarter of 2029.

Built on a site of over 53,000 square metres adjacent to the future Four Seasons hotel development, Oakmond will transform the historic Incosol site into "a state-of-the-art platform" for preventive medicine, clinical wellbeing and longevity. It is the first vertically integrated precision health ecosystem to combine luxury hospitality, comprehensive medical diagnostics, personalised interventions, continuous health monitoring and data-driven clinical intelligence within a single operational platform, according to the firm.

The new complex is thus envisaged as “a comprehensive platform where care is not limited to the patient’s in-person visit”; rather, the clinic will combine early diagnosis, personalised preventive medicine and a clinical intelligence system underpinned by data analysis tools to monitor patients’ health over time.

The complex will house a luxury hotel with 140 rooms, 28 private residences, spacious fitness facilities and a "carefully curated" culinary offering. The platform aims to create “a new category” in which medicine is the main product and “hospitality creates the environment for more in-depth diagnoses, greater adherence to treatment, a longer-term commitment and better outcomes”, according to the private equity firm, which emphasised that “the choice of Marbella consolidates the Costa del Sol as a key hub in Europe for luxury tourism and investment in unique property assets”.

“The agreement with Goldman Sachs Alternatives represents an extraordinary endorsement of the vision we set out on three years ago with the acquisition of Incosol, with the aim of creating a new category and becoming the global leader in this sector. Having a strategic partner such as this consolidates Oakmond’s viability and strengthens our ability to develop a model that combines preventive medicine, wellbeing and world-class care in a premier location such as Marbella,” emphasised Pelayo Cortina Koplowitz, founding partner of Ilanga Capital and CEO of Oakmond.

For her part, Rossitsa Koevska, of Real Estate at Goldman Sachs Alternatives, expressed her satisfaction at "supporting" Ilanga Capital "in delivering a new iconic asset" within the luxury hospitality sector, and "with global appeal to meet the growing demand for a leading offering in longevity and wellness".

As part of this transaction, Ilanga Capital has been advised by JLL on debt structuring, by the law firm HSFK on legal matters, and by Deloitte as its commercial adviser.

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