RoundShield, Harrison Street Asset Management’s European credit investment business, has acquired a 40ha property in northern Italy, which it intends to transform into a 5-star luxury resort.
RoundShield has acquired the asset in Menaggio, Lake Como, to develop the luxury resort that will be managed and branded by Corinthia Hotels.
The redevelopment and asset management will be carried out by Kervis SGR on behalf of the Putter Fund, which is wholly funded by a RoundShield entity.
The site, situated on the grounds of Italy’s second-oldest golf course, comprises three residential villas, a clubhouse, and is permitted for a 5-star 58-key hotel development.
The resort is scheduled to become operational in late 2028, with construction commencing as soon as final planning permits are secured. Financial details were undisclosed.
Philipp Henle, managing director at RoundShield, said: “We are proud to bring this extraordinary site to life with Corinthia and Kervis, blending Lake Como’s heritage with an elevated luxury offering.
“This project reflects RoundShield’s growing focus on luxury hospitality-led real estate in prime European destinations, such as the Six Senses Loire Valley, with additional projects forming part of a carefully curated growth pipeline.”
Simon Casson, CEO of Corinthia Hotels, said: “Lake Como is one of the world’s most admired destinations, and this development represents a shared commitment to excellence and authenticity. Together, we will deliver a hotel that celebrates the region’s splendour and heritage while exemplifying Corinthia’s standards of timeless, thoughtful luxury.”
Federico Romito, partner and head of acquisitions at Kervis SGR, said: “The project perfectly embodies Kervis’ vision of combining heritage, sustainability, and excellence in hospitality to create long-term value for both our investors and the local community.
“This investment also reflects Kervis’ broader strategy of partnering with leading global operators and institutional capital to reposition landmark Italian destinations.”
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