Italian asset manager Antirion is believed to be the buyer of the historic headquarters of bank BNL in Rome's Via Veneto, PropertyEU has learned.
The asset, a prime example of 1930s Italian architecture and formerly the headquarters of lender BNL Gruppo, was put up for sale by landlord BNP Paribas' BNL arm last year for a price of around €250 mln.
CBRE, which managed the sale on a joint instruction with BNP Paribas Real Estate Advisory and EY Hospitality, announced the acquisition today without disclosing details of the buyer or the investment volume. PropertyEU understands, however, that the 26,700 m2 property has been sold to Antirion, which manages the funds of the Italian pension fund for doctors, Enpam, for around €190 mln.
The asset, which is earmarked for the Antirion Global closed-end fund, is expected to become a five-star luxury hotel with up to 180 rooms.
'This transaction signals the emergence of a new ultra-luxury hotel brand in the Roman market,' said Francesco Calia, head of hotels at CBRE Italy. 'There is great interest from international operators in the city thanks to its solid market performance, and this is driving the growing demand for both core and value-add investments in Rome, a city that each year accounts for around 30% of the hotel investments in Italy.'
In December Rome's Via Veneto saw another luxury hotel change hands. The Ambasciatori Hotel was sold to the Star II fund managed by Castello Sgr and invested by Oaktree, in a deal backed by financing from Unicredit. The hotel encompasses 14,600 m2 over 152 rooms.
