Global investment firm Sixth Street in partnership with independent financial advisory firm Eidos Partners has completed the purchase of the Le Palme Hotel & Resort property in Porto Cervo on the Costa Smeralda in Sardinia, Italy.
The purchase is Sixth Street’s first hotel and resort acquisition in Italy and follows the acquisition of five hotels in Spain in December 2021. Eidos Partners will act as operational asset manager as Sixth Street and Eidos comprehensively redevelop the 17,000 m2 property into a five-star ultra-luxury resort with an expected opening in 2024.
Sixth Street and Eidos are in the selection process of a renowned hotel and property manager to create a new partnership for the co-management of the ultra-luxury hotel in Porto Cervo.
The Le Palme property is located in Liscia di Vacca in Porto Cervo, the main village of the Costa Smeralda, an important Italian luxury destination. The Le Palme property today includes a private beach, lake, garden, restaurant, pool and 92 hotel rooms.
The new investment is added to Sixth Street’s Italian portfolio that includes logistics, offices, residential, student housing, telecom infrastructure and now hospitality assets. The firm has a long-term view and is committed to further grow its Italian investment portfolio across different industries with a focus on real estate.
Gianni & Origoni, Legance, and EY served as advisors to Sixth Street on the transaction.
