24 May, Il Sole 24 Ore
Fattore Italia, the company established and equally owned by Ernesto Albanese and Stefano Tanzi, is moving on two different grounds: hospitality and student housing.
The objective is to identify and select investment opportunities in companies operating in the leisure, tourism, culture and creativity sectors.
Fattore Italia invested in Campus X, a company managing university campuses of which holds the 40%, and it aims at acquiring a bigger quota of it. Campus X comes from an idea of Siram, a former municipal company from Milan now owned by Veolia.
Campus X manages at present three facilities in Rome, Bari and Chieti that were inaugurated in 2011, with 2,700 beds in total for university students.
Fattore Italia also manages a hotel portfolio: the hotel Tocq in Milan in Via De Tocqueville owned by Enpam. The company aims at growing in this sector. There are several negotiations currently going on to obtain the management of new facilities. Fattore Italia focuses on a niche capable of offering investment opportunities.
“Regarding the hotel sector, we bet on the single occasions which come up on the market – says Stefano Tanzi -. We’re currently evaluating new properties in Tuscany, Sardinia, precisely in Costa Smeralda, as well as in Capri”.
The founders have a long managerial experience in the financial and corporate world. Ernesto Albanese was the Ceo of Coni Servizi, Eurofly and Atahotels, while Stefano Tanzi previously worked for Kpmg and was a partner in 21 Investimenti of Alessandro Benetton.
For what concerns campuses, the facility in Rome, in Tor Vergata, provides 1,500 beds (30% of the students here come from abroad) divided between 17 units over a surface of 50 thousand Sq m.
At the end of 2015, Campus X registered a turnover of 9.5 million euro. “With the entry of Fattore Italia and the progressive company turnaround, the turnover grew to 10 million in 2017, and it’s expected to reach 13 million euro by the end of 2018: 8.7 million coming from Rome, 2.2 from Bari and 1.4 million from Chieti”, states the company. The company has implemented in the last two years a massive managerial, administrative and economic-financial restructuring. The 2017 financial statement reported for the first time a positive Ebitda for 300 million euro.
After the completion of the reorganisation, Campus X started a phase of growth and is currently evaluating several dossiers to open new facilities. “We aim at opening 20 facilities – explains Tanzi -. We’re looking at the main cities, as Milan, Florence, Turin and Rome”.
The dimensions of the residences go from 19 Sq m to 56 Sq m. In Rome, the rents span from 480 euro to 700 euro monthly.
Campus X is in touch with Italian and international institutional investors that are planning investments in the sector. The objective is to become partners to revaluate the assets. The returns for investments in the student housing sector are comprised between 4.5% and 5.5%, and real estate companies highly evaluate such investments.
Source: Il Sole 24 Ore
Translator: Cristina Ambrosi