Allianz Real Estate, the property arm of the German insurer, has unveiled plans to reposition a Milan office into a prime hotel, inking a deal with Radisson Hospitality to operate the asset.
The hotel will be located within the former office building on via Santa Sofia 37 which is managed by Allianz Real Estate on behalf of Allianz group companies.
Dubbed The Radisson Collection Hotel, Santa Sofia Milan, it is set to open in 2022.
'The project will transform the former office building into an iconic destination, providing the very best facilities for its guests as well as enhancing the local area,' said Donato Saponara, head of Italy at Allianz Real Estate. 'The project forms part of the exciting regeneration of the Santa Sofia area. The introduction of a hotel, which focuses on gastronomy, will help to restore this part of Milan into a 24/7 destination for citizens and visitors alike.'
The project will create a hotel with 160 guest rooms, including 43 junior suites and 11 suites, a wellness terrace, fine dining restaurant and a rooftop bar.
It will also offer hi-tech meeting and events spaces for the local and international business communities, and benefit from the new Santa Sofia M4 underground stop, which is expected to open in 2022.
'We will transform this building into a new and exclusive address for the Milanese hotel industry, contributing to the positioning of Santa Sofia ring as a central rising and attractive location,' added Elie Younes, executive VP of development for the Radisson Hotel Group.
Allianz was assisted by CBRE Hotels Italy for the negotiation of the lease signed between the parties. Dentons acted as legal advisor.
The Radisson hotel team, led by Mauro Vinci, director of development for Italy, was assisted by Studio Marco Piva on the technical side and by lawyer Nicola Ferrini.
