CBRE HOTELS ASSISTS BNP PARIBAS REIM IN THE SALE OF TWO HOTELS TO SWISS LIFE ASSET MANAGERS REAL ESTATE FRANCE: NOVOTEL IN MALPENSA AND RADISSON BLU IN MILAN
With this transaction, Swiss Life Asset Managers Real Estate France joins the Italian market
CBRE Hotels assisted BNP Paribas Reim Sgr in the sale of a portfolio of two hotels to Swiss Life Asset Managers Real Estate France: Novotel in Milan Malpensa and Radisson Blu in Milan. With this transaction, Swiss Life Asset Managers Real Estate France, increases its interest in the hotel sector by investing for the first time in the Italian market, choosing this asset class.
In this first semester CBRE Hotels continues to point out the strong interest of "CORE" international investors in medium-large sized hotel assets with long-term lease contracts, tenant of primary importance and located in cities that record high business and leisure flows. To this day, we observed hotel sales for a value of approximately € 450M, a better result compared to the same period of 2017, excluding the transfer of ownership of Boscolo hotels to Värde. It’s not a coincidence that Swiss Life has precisely chosen the asset class Hotel to join our market.
The two hotels belong to the upscale hotel category; the Novotel in Milan Malpensa is just a few minutes from the airport and has 208 rooms, 6 meeting rooms with a capacity of about 50 people each and a congress centre, an outdoor swimming pool and a fitness room. The Radisson Blu, located in the Bovisa area of Milan, comprises 250 rooms, 10 meeting rooms and a conference room that can accommodate up to 240 people, as well as a fitness centre, an indoor heated swimming pool and a wellness centre.