The asset located at Via Depretis comprised of a trophy building containing c. 7,000 sqm of prime office space in Rome.
In parallel to the negotiations with the vendor and the incumbent lender, we identified two strategies; conversion into high quality residential units, or hotel use. Following the negotiations with a German hotel operator that was looking for a prime location in Rome, the asset was sold 3 months after closing at a significant premium to the acquisition price.
| Acquisition | July 2021 |
|---|---|
| Country/city | Rome, Italy |
| Fund Name | ICE II |
| Sqm | 7,000 |
| Strategy | Repurposing |
