Covivio Invests 217 Million Euros in Four Milan Hotels
Covivio accelerates its expansion in the Italian hotel sector. Through its subsidiary Covivio Hotels, the real estate group has finalized the acquisition of a portfolio of four 4-star hotels in Milan for a total amount of 217 million euros, of which 115 million euros are the group's share.
The four establishments are located in Scalo Farini, Bicocca, Corso Buenos Aires, and Piazzale Loreto, areas well served by public transport. The portfolio offers a total of approximately 900 rooms. The hotels, fully renovated, ensure high quality standards and modern facilities. The assets meet the highest ESG standards aiming for LEED Gold or BREEAM In-Use Very Good certification, and comply with the European taxonomy and CRREM's emission targets by 2030.
Leaseback Operation with Invest Hospitality
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The acquisition was completed through a leaseback operation with Invest Hospitality, which will continue to operate the establishments. The leases, lasting 21 years, provide for a minimum guaranteed rent and a variable component linked to the revenue of the hotels. This structure results in a yield on the minimum guaranteed rent of 6% and a target yield, including the variable rent, of about 7%.
Enhancing Covivio’s Presence in Milan’s Hotel Market
Milan enjoys strong demand in both the business and leisure segments. This acquisition significantly strengthens Covivio's presence in the Italian hotel market, where the group already has a strong foothold in office spaces. Invest Hospitality, through its integrated platform, has built a leading reputation and a solid track record, confirming its position among the top operators in the Milan hotel market.
SectorImmobilier / construction · Immobilier commercial / foncières›Fonds Immobiliers de Bureaux
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Context
Period
Period: 1S2026
Key reported figures
Revenue: 526M€
Net income: 282.4M€
Guidance from the release
Confiance dans le second semestre.
Dynamique de croissance solide, notamment dans l'asset management.
Risks mentioned
Environnement de marché sélectif pourrait limiter les opportunités.
Pression sur les marges avec hausse des coûts d'exploitation.
Opportunities identified
Acquisition de quatre hôtels à Milan pour 217 M€.
Lancement de huit projets de redéveloppement.
The information presented in this article is provided for informational purposes only and does not constitute an investment recommendation, an incentive to buy or sell a financial asset, or investment advice. Readers are invited to conduct their own research before making any decision.
Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.
