KKR recently closed the funding round for its second European real estate fund, Real Estate Partners Europe II, collecting USD 2.2bn. The fund focuses on value-added and opportunistic real estate investments in Western Europe in sectors such as logistics, residential, student housing, hospitality and offices. REPE II has been underwritten by new and existing investors...Read More
The Angst Hotel in Bordighera (Liguria) has recently been acquired by the real estate developer Bizzi & Partners. The acquisition will be followed by an asset conversion project into luxury apartments, maintaining the external characteristics of the building, as well as the adjoining botanical garden. The anticipated value of the redevelopment project of the complex,...Read More
The closed-end real estate fund BDF, managed by Namira SGR, has recently completed the acquisition, from the Ferrovie dello Stato Italiane Group, of the Campasso di Nervia area, in Ventimiglia. The acquisition of the area (approximately 42,000 square meters) follows the tender launched by FS Sistemi Urbani (Ferrovie dello Stato Italiane Group) on November 2,...Read More
As anticipated by Tony Capuano, CEO of Marriott, in a recent interview released to the Italian business newspaper Sole24Ore, the group would have in pipeline the opening of a new structure, under the brand “W”, in Italy. The new opening is set to open Florence by 2023. The new Florentine building will have 120 rooms,...Read More
Rocco Forte, in partnership with Generali Real Estate, will develop a new serviced apartment complex in Milan. The opening follows another alike-concept property, inaugurated in October 2019, in Piazza di Spagna (Rome). Since its inauguration, the Rocco Forte House Rome has recorded a total turnover of EUR 378 thousand, approx. 76 thousand per key (balance...Read More
According to Dorelan management, about 10% of the company’s turnover is attributable to supplies that were accelerated or otherwise expanded during the pandemic. As reported by Dorelan, the intervention cost on the bedding component in a complete revamping or restructuring intervention takes up a very high budget allotment. At least 80% of redevelopment projects include...Read More
The second YellowSquare hostel will open in August 2021 in Milan. The first one was conceived in Rome 22 years ago from the brilliant intuition of the brothers Marco and Fabio Coppola. YellowSquare Milan will offer 98 beds in mixed dormitories and 29 private rooms. The common areas will include: a Dance Club, an always...Read More
The Italian investment company Star Gestioni Srl acquired the 55-room 4* Hotel M89 in Milan from Torre SGR for a value of EUR 7.7 million (EUR 140,000 per room). The property has a total area of approximately 4,600 square meters and is spread over seven floors above the ground, plus a basement. The hotel, located...Read More
After an agreement which lasted over five years, the Berzieri baths in Salsomaggiore were officially bought on June 30th for EUR 10.25 million by Cassa Depositi e Prestiti. The spa facility will be managed, through a 20-year contract, by QC Terme, one of the industry main players that currently manages nine other spas and wellness...Read More
Italian Hospitality Collection announced an EUR 45 million CapEX plan for the relaunch of 3 hotels. The strategy aims at the redevelopment of 3 structures of the group’s hotel portfolio, included in the Star fund, managed by Castello SGR (a company controlled at 82% by the American fund Oaktree Capital Management). The portfolio comprises 3...Read More
