The Garrè Family sold Portofino’s Castello San Giorgio (aka Villa San Giorgio) to Fort Partners, a franchisee of Four Seasons, for 66.4 million euros (see here a previous post by BeBeez). Fort Partners is a real estate developer that Nadim Ashi founded. Four Seasons belongs to Bill Gates, Al-Waleed bin Talal and other minority shareholders. In 2022, the book value of Castello San Giorgio amounted to 37.33 million.
Italian elderly care group Sereni Orizzonti is in advanced talks for acquiring four retirement homes, the company’s owner Massimo Blasoni said to BeBeez (see here a previous post by BeBeez). Sereni Orizzonti also invests in the development of projects for retirement homes worth 10 million euros to dispose later through sale & lease back contracts. Blasoni said that the company aims to carry on investments in the region of 100 million in the short term.
Spain hospitality group Barceló acquired Devar Midas, the owner of Rome’s Midas Palace Hotel (see here a previous post by BeBeez). Zeitgeist Asset Management, based in Prague, previously acquired the hotel in 2023. Barceló retained LS Lexjus Sinacta while Alpine Capital (unsecured creditor of Devar Midas) hired FairWise.
In 2023, Italian real estate and leisure group Villa d’Este generated sales of 94.6 million euros, an ebitda of 38.2 million and net profits of 22.7 million (see here a previous post by BeBeez). The company said that it launched the spv Lake Como Hospitality Campus for acquiring Como area’s leisure development project Salesianum. The transaction will close only if local institutions will not exercise their pre-emption rights.
