CBRE Hotels advises BNP Paribas REIM on the sale of two hotels to Swiss Life Asset Managers Real Estate France

CBRE Hotels has advised BNP Paribas Reim Sgr on the sale of two hotels, The Novotel, Milan Malpensa and the Radisson Blu, Milan, to Swiss Life Asset Managers Real Estate France.  

The Milanese hotels are positioned in the upscale business segment, operated by two major operators in the global hotel industry, Rezidor (Radisson Blu Hotel Milan) and Accor (Novotel Milan Malpensa).  

The Novotel, Milan Malpensa is situated just minutes from Milan Airport, consisting of 208 guest rooms, six meeting rooms, a conference centre and an outdoor swimming pool and fitness centre.  The  Radisson Blu, Milan is located in the Bovisa area of Milan. The hotel comprises of 250 guest rooms, 10 meeting rooms, a 240 pax conference centre and fitness centre with a health and wellness spa. 

Francesco Calia, Head of CBRE Hotels Italy, commented: "We are seeing strong interest from "CORE" international investors in medium to large-sized hotel assets with long-term lease contracts, and that are located in cities that record high business and leisure flows. 

To date, Italy has recorded hotel sales for a value in excess of € 450M, which is up on the same period of 2017, excluding the Boscolo deal made by Värde. It’s not a coincidence that Swiss Life has precisely chosen the asset class Hotel to join our market".

About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2017 revenue). The company has more than 80,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com. 

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