Hines and Clessidra Private Equity signed an agreement to invest in The Human Company, (fka ECV Group), an outdoor hospitality company that belongs to the Cardini and Vannucchi families, with 120 million euros worth deal (see here a previous post by BeBeez). The Cardini and Vannucchi families will participate in the management of the business. The closing of the transaction could take place in 2H24. LABS Corporate Finance, Chiomenti, and KPMG advised The Human Company and its controlling shareholders. White & Case, PedersoliGattai, EY, Alonzo Committeri & Partners, Dentons, and Yard Reaas assisted Hines and Clessidra.
Gruppo della Frera acquired Venezia Capitol gaining full control over Venice Hilton Garden Inn Hotel. Guido Della Frera is the chairman and ceo of the buyer that retained NCTM (see here a previous post by BeBeez). Della Frera financed this investment of more than 20 million euros with its own resources (equity). Lucia Ercolano will retain her role as ceo of Venezia capitol while Michela Murara will keep acting as general manager of the Hilton Garden Inn Hotel. SC Ventures BV (90%) and Marialuisa Banci (10%) sold their shares in Venezia Capitol, which has revenues of 7.5 million, ebitda of 2 million, equity of 10.2 million and net financial debt of 9.5 million.
Renovalo (fka Imprendiroma), a Milan-listed company active in urban regeneration and requalification of real estate structures, invested 0.6 million euros for acquiring Stil Termica, a company operating in the building heating sector (see here a previous post by BeBeez). Stiltermica has a turnover of about 0.8 million. Guerino Cilli, Renovalo’s executive chairman, said to BeBeez that this transaction will result in important synergies and added that the company has an adjusted turnover of 132.9 million and a net operating working capital of 35 million so it has the possibilities of carrying on further m&a transactions and closing another one by the end of 2024. Renovalo is interested in expanding in the silver economy, hôtellerie and student housing sectors. Renovalo’s net financial debt to ebitda is 0.18x. Shareholders’ equity is 33.6 million. The company has therefore significant prospects for capitalization in the future, Cilli added.
Castello, a company that belongs to Anima Holding (80%) and Oaktree Global Management (20%) since late February 2023, invested 135 million euros in refinancing and relaunching Grand Hotel Via Veneto in Rome (see here a previous post by BeBeez). Grand Hotel will rebrand as Nobu Hotel and will host the Japanese restaurant Nobu, part of the chain that Nobu Matsuhisa Matsuhisa and Robert De Niro created. The investors scheduled the hotel’s opening for spring 2025. Rothschild & Co was advisor to Grand hotel via Veneto. Architect Marcello Piacentini designed the hotel while Venetian painter Guido Cadorin adorned it with frescoes. Giampiero Schiavo is the managing director of Castello
PGIM Real Estate, a real estate investment company with about 210 billion USD of assets under management that is part of the PGIM – Prudential Financial group, sold a portfolio of premium campsites in Veneto and Tuscany to Sandaya, an operator of campsites and open-air facilities in Europe (see here a previous post by BeBeez). Musie Bocrezian is head of Italy at PGM Real Estate. Nabil Mabed is senior portfolio manager of PGIM Real Estate’s European Value-Add strategy.
REAM signed a sale & lease back agreement with Al Gilà for Algilà Ortigia Charme Hotel (AOCH) in Syracuse (see here a previous post by BeBeez). Advant Nctm and Abaco assisted REAM. LCA Studio Legale advised Al Gilà. AOCH has 54 rooms on a total area in the region of 3,100 sqms. Giovanni Rimbotti, managing director of Al Gilà, said the company will invest the proceeds of this sale in hotel acquisitions in cities of art, especially in Southern Italy, and will soon start renovating a large historic hotel in the center of Palermo. Al Gilà has5.6 million euros in revenues, 1.2 million in ebitda and net financial debt of 3 million. Oronzo Perrini is the general manager of REAM
Liagre Hospitality Ventures Limited, a Singapore’s group, acquired a majority stake (80%) in San Gallo Development (SGdvp), which is managing the redevelopment of the San Gallo Military Hospital (OMSG) in Florence (over 16000 sqms in the city center), from Gb Invest Holding, a company that belongs to Lorenzo Nesti (see here a previous post by BeBeez). CDP Invest acquired OMSG in 2014 from the Italy’s State Property Office. Gb Invest Holding acquired the complex in 2019, investing more than 25 million euros with the aim of transforming it into a luxury resort with commercial spaces and a rooftop pool overlooking the dome of Florence Cathedral. On May 2, Thursday, SGdvp appointed Anil Thadani as chairman.
Investire (Banca Finnat Group) teamed up with Patron Capital, a pan-European investor in real estate , for creating Rome Resi 1, a trust for developing the residential market in Rome through deals worth a total of 150 million euros (see here a previous post by BeBeez). The joint venture partners will focus on ESG-driven projects and opportunities in Rome’s most desirable neighborhoods, ranging in size from 50 to 200 apartments. This jv already acquired its first property, which has a building permit for the construction of a 9,300 sqms complex with a gross development value (GDV) in the region of 70 million. Such development will complete by the end of 2026 and will include 110 apartments and 105 parking spaces.
Trusters signed a partnership with Simplex Domus, an innovative startup specializing in online real estate auctions analysis and proposal that Lorenzo Fontanelli founded in 2022 (see here a previous post by BeBeez). Simplex Domus clients will now be able to access investment opportunities available on Trusters, a real estate lending crowdfunding platform of which Milan-listed CrowdFundMe owns 58.3%. Tommaso Baldissera Pacchetti is the managing director of CrowdFundMe.
