CBRE Hotels advisor of Valtur with the sale of three resorts in Italy

Milan, 23 November 2017 – The CBRE Hotels Italian team has assisted Valtur S.p.A. on the sale of part of their Italian resorts porfolio for a total of 938 keys.

The portfolio has been sold to Cassa Depositi e Prestiti (CdP Investimenti SGR) on a sale-lease back agreement. The resorts will continue to be managed by Valtur for the next 30 years.

The size of the deal is € 43.5 million. To this amount should be added additional € 32.9 million (of which € 6.5 million directly covered by Valtur) of investments for the refurbishment and the repositioning of the portfolio, in line with the strategy of Valtur. Therefore, the total value of this transaction adds up to € 75 million.

The CBRE Hotels Italian team, led by Francesco Calia (Head of Hotels, Italy) was appointed as sole advisor for the sale of the three resorts by Valtur S.p.A and carried out all of the process from the pre-marketing campaign to the closing of the deal. Domenico Basanisi (Director Investment Properties at CBRE Hotels) has managed the sale process on a daily basis, whereas Federica Saccani (CBRE, MD Building Consultancy) has undergone the technical due diligence activities.

“This transaction clearly outlines the rising interest on resort investments in Italy, especially by institutional funds - declares Domenico Basanisi - we have addressed the investment opportunity to a selected list of investors, whom we thought would be suitable for an investment on the three proposed resorts. Since the beginning of the sale process we received high interest on the portfolio from both Domestic and International investors and we are happy to close the deal with CdP due to its commitment on relaunching the Italian hospitality industry”.

This year’s first nine months, have seen a total of €900 million invested in the Italian hotel sector, of which ca. €200 million in Q3, recording overall a 26% YTD increase on 2016 figures.

CBRE Hotels expects to perform over € 1bn at the year end, confirming the positive market trends registered since the beginning of 2015.

About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), 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 2016 revenue).  The company has more than 75,000 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.