Coima recapitalises Venice fund, brings in operator London & Regional

Related Asset Managers

An Italian real estate fund managed by COIMA SGR is being recapitalised, enabling it to refurbish two historic hotels.

Coima has reached an agreement with hotel operator London & Regional Properties and lenders Intesa Sanpaolo and Unicredit.

The fund plans to upgrade the Hotel Excelsior and Hotel Des Bains in Lido di Venezia, home to the Venice Film Festival.

London & Regional, a UK-based company, will take over the operation of the hotels.

Coima assumed the management of Real Venice I from Est Capital in 2015 after it was selected by the fund’s investors.

The hotels will be transferred to a new fund Lido di Venzia II.

Investors in the fund include Cassa di Risparmio Padua and Rovigo Foundation, and the pension fund for personnel of the former Bank of Rome.

Manfredi Catella, founder and managing director of Coima, said: “The agreement reached with Intesa San Paolo, Unicredit and London & Regional, following the completion of corporate restructuring, is a first decisive result in the start up of the Lido di Venezia collaboration with the city’s institutions and with the community.

“The regeneration of the Lido in Venice can be an important pilot project for tourism in Italy.”

Have your say

You must sign in to make a comment


Your first step in manager selection...

IPE Quest is a manager search facility that connects institutional investors and asset managers.

  • QN-2575

    Asset class: Core Real Estate Muli-Manager Separate Managed Account.
    Asset region: Global.
    Size: CHF 150m.
    Closing date: 2019-12-20.

  • QN-2578

    Asset class: Sovereign Local Currency Emerging Market Debt.
    Asset region: Local emerging markets.
    Size: EUR 950m.
    Closing date: 2019-12-19.

  • QN-2582

    Asset class: Emerging Market Corporate Debt Hard Currency Investment Grade.
    Asset region: Emerging Markets.
    Size: USD 40 – 60 m.
    Closing date: 2020-01-07.

Begin Your Search Now