{"id":1815,"date":"2023-07-04T11:00:00","date_gmt":"2023-07-04T09:00:00","guid":{"rendered":"https:\/\/coima.com\/press_release\/coima-sgr-acquires-hotel-from-covivio-in-piazza-duca-daosta-in-milan\/"},"modified":"2026-04-22T15:18:24","modified_gmt":"2026-04-22T13:18:24","slug":"coima-sgr-acquires-hotel-from-covivio-in-piazza-duca-daosta-in-milan","status":"publish","type":"press_release","link":"https:\/\/coimacom-wp.ensoul.works\/en\/media\/press-releases\/coima-sgr-acquires-hotel-from-covivio-in-piazza-duca-daosta-in-milan\/","title":{"rendered":"COIMA SGR acquires Hotel from Covivio in Piazza Duca D&#8217;Aosta in Milan"},"content":{"rendered":"\n<p class=\"leading-line-height-paragraph tracking-paragraph font-paragraph max-w-container-paragraph text-left text-paragraph-sm! md:text-paragraph-base!\" id=\"paragraph-a7b9ed\"><strong>The approximately 3,000 square-metre four-star hotel, is opposite the Central Station, and boasts a 90 per cent average occupancy and is leased until 2041<\/strong><\/p>\n\n\n\n\n\n<p class=\"leading-line-height-paragraph tracking-paragraph font-paragraph max-w-container-paragraph text-left text-paragraph-sm! md:text-paragraph-base!\" id=\"paragraph-a7bb10\">Milan, 4 July 2023 &#8211; <strong>COIMA SGR<\/strong> (&#8220;COIMA&#8221;), a leading player in the investment, development and management of real estate assets on behalf of institutional investors, announces that it has acquired from <strong>Covivio<\/strong>, one of the leading real estate companies in Europe, the four-star <strong>HD8 Hotel Milano<\/strong>, in Piazza Duca d&#8217;Aosta, in front of the Central Station, for \u20ac23 million.<\/p>\n\n\n\n\n\n<p class=\"leading-line-height-paragraph tracking-paragraph font-paragraph max-w-container-paragraph text-left text-paragraph-sm! md:text-paragraph-base!\" id=\"paragraph-a7bb9f\">The transaction was conducted through the <strong>COIMA Core Fund II<\/strong> (&#8220;Core II&#8221;), set up in 2012 with an investment strategy focused on the acquisition and management of properties located in major Italian cities, particularly Milan. The property acquired is LEED Gold certified and part of a <strong>portfolio rotation strategy for certified and sustainable properties<\/strong>. Currently, the fund&#8217;s portfolio includes direct investments for eight properties of approximately 30,000 sqm and four indirect investments (in other funds and real estate companies). The transaction was concluded using a new \u20ac33 million loan taken out on the Core II fund with BPER Banca.<\/p>\n\n\n\n\n\n<p class=\"leading-line-height-paragraph tracking-paragraph font-paragraph max-w-container-paragraph text-left text-paragraph-sm! md:text-paragraph-base!\" id=\"paragraph-a7bc2d\">The 3,000 square metre <strong>building<\/strong>, with 79 rooms on 11 floors, includes, in addition to the hotel, two leased retail units on the ground floor. Completely renovated in 2021, the hotel is <strong>leased under a contract that will end in 2041<\/strong>, with a possible extension for a further nine years. The asset has an average booking rate close to full occupancy (more than 90 per cent) due to its strategic location close to the Central Station and two metro lines.<\/p>\n\n\n\n\n\n<p class=\"leading-line-height-paragraph tracking-paragraph font-paragraph max-w-container-paragraph text-left text-paragraph-sm! md:text-paragraph-base!\" id=\"paragraph-a7bc8a\"><strong>COIMA Chief Investment Officer Gabriele Bonfiglioli <\/strong><strong>said<\/strong><strong>:<\/strong> <em>&#8220;The building acquisition is consistent with the investment strategy of our Core II fund, which focuses on quality buildings in central and well-connected locations with attractive returns in a market environment that is offering attractive opportunities. HD8 Hotel Milano is a LEED Gold-certified building, with leases exceeding 15 years which respond to the evolving demand in the hospitality sector, and is seeing an increase in tourists and business travellers looking for accommodation in boutique hotels well connected to the city centre.&#8221;<\/em><\/p>\n\n\n\n\n\n<p class=\"leading-line-height-paragraph tracking-paragraph font-paragraph max-w-container-paragraph text-left text-paragraph-sm! md:text-paragraph-base!\" id=\"paragraph-a7bd16\"><strong>Covivio&#8217;s Italian Chief Executive Officer Alexei Dal Pastro <\/strong><strong>said<\/strong>: <em>\u201cThis transaction enhances the value of the asset, which underwent a major redevelopment that included the transformation of the original office into accommodation, ensuring significant value creation for our shareholders.\u201d<\/em><\/p>\n\n\n\n\n\n<p class=\"leading-line-height-paragraph tracking-paragraph font-paragraph max-w-container-paragraph text-left text-paragraph-sm! md:text-paragraph-base!\" id=\"paragraph-a7bd75\">The acquisition was supported by Simmons &amp; Simmons as legal counsel, Alma Led as fiscal advisor and Savills&#8217; Hospitality team as commercial advisor. The transaction\u2019s financing was secured by BPER Banca with the support of GTA and Osborne Clark for legal support.<\/p>\n","protected":false},"featured_media":1811,"template":"","meta":{"_acf_changed":false,"footnotes":"","immagine_archivio":"1813","sottotitolo":"","card_title":"COIMA SGR acquires Hotel from Covivio in Piazza Duca D'Aosta in Milan","society":"coima","main_downloadable":"1814","display_sites":["com","sgr","rem"],"_ensoul_lang":"en","_ensoul_tr_group":"108b0070-6617-4a12-8e2b-6cf0ca36c7ef","pdf_url":"https:\/\/coimacom-wp.ensoul.works\/app\/uploads\/2026\/03\/CS_COIMA_Covivio_HD8HotelMilano_04_07_2023-IT.pdf"},"press-society":[44],"press-year":[49],"tipo-comunicato":[14],"class_list":["post-1815","press_release","type-press_release","status-publish","has-post-thumbnail","hentry","press_society-coima","press_year-49","tipo_comunicato-altro"],"acf":{"immagine_archivio":1813,"sottotitolo":"","card_title":"COIMA SGR acquires Hotel from Covivio in Piazza Duca D'Aosta in Milan","society":"coima","main_downloadable":1814,"downloadables":null,"display_sites":["com","sgr","rem"],"pdf_url":"https:\/\/coimacom-wp.ensoul.works\/app\/uploads\/2026\/03\/CS_COIMA_Covivio_HD8HotelMilano_04_07_2023-IT.pdf"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.2 - 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