Coima pays €23m for Milan hotel

Coima pays €23m for Milan hotel

Coima Sgr has acquired the 4-star HD8 Hotel Milano located in Piazza Duca d’Aosta in front of the Central Station in Milan, Italy from Covivio for €23 million.

The property is LEED Gold certified and is part of a portfolio rotation strategy of the COIMA Core Fund II in favor of certified and sustainable properties.

“The acquisition of this building is consistent with the investment strategy of our Core II fund, which aims to focus on quality buildings in a central and well-connected location, with attractive returns in a market environment that begins to offer attractive opportunities,” said Gabriele Bonfiglioli, Chief Investment Officer at Coima.

“HD8 Hotel Milano has leases of more than 15 years and is able to respond to the evolving demand of the hospitality sector, which sees a continuous increase in tourists and business travelers looking for accommodation in boutique hotels well located with respect to the historic center.”

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