Dutch developer Foruminvest has completed the sale of its new built Tribe Milan Malpensa hotel to the French institutional investor Corum Asset Management for an undisclosed amount.
The Tribe hotel, with its 240 rooms, is located next to the international terminal of Malpensa Airport (Milan) and is fully leased to Amapa Group for an initial term of 30 years.
Mélanie Ballu, investment director at Corum said: 'This Core investment fits seamlessly with our long-term strategy and is benefitting from a promising hotel market trends following recovery after Covid. This hotel is an opportunity for diversification of our portfolio in compliance with our in-house ESG criteria. The transaction with Foruminvest was very successful.'
Marco Mutti, managing director Foruminvest Italy added: 'The turnkey development of this Tribe?hotel is a perfect example of our hotel strategy; vibrant locations, attractive?brands and experienced tenants. This appeals greatly to investors in the hotel sector. This second sale to Corum stands to confirm the successful relationship that started with the sale by our Dutch headquarters of Ibis Styles at Rotterdam Ahoy.'
Foruminvest has its roots in retail developments but in recent years, the focus has been shifted towards developing hotel projects. David Ermia, CEO Foruminvest Group said: 'The experiences in retail projects have proven to be very valuable for the hotel sector. Foruminvest aims to become one of the important players in Europe in the hotel real estate sector, with the new developments of a 4* Ruby hotel in Rotterdam (Netherlands) and the ultra-luxury 5* hotel at Lake Como (Italy) being good examples of what is in the pipeline.'
