Sofidy, the French investment arm of Tikehau Capital, has announced the acquisition of the B&B Hotel Milan Central Station, in its first investment foray in Italy.
The acquisition is part of the firm's international expansion plans and it was made on behalf of the firm's Efimmo 1, a €1.75 bn fund with 900 assets.
Renovated and refurbished in 2017, Milan Central Station is a three-star hotel located in the heart of Milan, managed by operator B&B Hotels. The hotel covers an area of 3,000 m2 and has over 100 modern designed rooms, spread over eight floors. The average residual duration of the lease is 15 years.
'This investment, our first in Italy, is important for Sofidy's European development and confirms our interest in the hotel sector in cities with strong tourist potential,' said Jean -François Le Dren, Sofidy's deputy director of Investments - Europe.
Cushman & Wakefield brokered the deal.
