Adigrat Real Estate acted as the advisor for the sale of a hotel in Milan.
24 April 2024 - News

Adigrat Real Estate acted as the advisor for the sale of a hotel in Milan.

Adigrat Real Estate acted as an advisor for the off-market sale of a hotel located at 10 Piazza Monte Titano in Milan. he asset, owned by Covivio, was acquired by a leading Italian industrial group.
With a surface area of approximately 7,500 square meters, the property consists of 131 rooms spread over ten above-ground floors, in addition to two basement levels designated for parking, accommodating around 200 parking spaces.
The building, previously designated for office use, underwent a complete renovation in 2018 following rigorous sustainability standards, as evidenced by the prestigious LEED Gold certification. It is leased and managed by the Meininger Hotels Group, an internationally expanding hotel chain specializing in hybrid accommodations that blend the features of a hotel and a hostel, catering to a diverse range of clientele.

The property is located in the former Scalo Lambrate area, which is undergoing a significant urban and social regeneration initiative as part of the 'Reinventing Cities' program. This initiative aims to create a new green and innovative neighborhood. Furthermore, the hotel's prime location directly in front of the Milano Lambrate train station and the M2 metro stop ensures excellent accessibility.
The hotel real estate sector is demonstrating significant dynamism, fueled by the resurgence of tourism to pre-pandemic levels and the strong appeal of Italian destinations.

Milan, in particular, continues to be one of the most vibrant markets, capable of attracting a steady flow of tourists and professionals for much of the year, also thanks to a rich calendar of events, including the upcoming Milan-Cortina 2026 Winter Olympics.

This transaction also confirms the centrality of environmental sustainability in the operations of institutional and private investors, who show particular interest in high ESG-rated assets, favoring semi-central areas undergoing redevelopment interventions.