21 April, Milano Finanza
It will be operational by June, the fund Giorgione Due is a reserved fund incorporated by Sorgente sgr at the end of February and it focuses on hotels. In the initial portfolios, there are two four-star hotels in Rome managed by an Italian group. The fund was incorporated in collaboration with some banks, it invests in impaired loans to turn them into profitable assets.
The two assets are located close to the airport and are worth approximately 68 million euro with 530 rooms. They’re characterised by the brand features and have been designed by great international street art artists such as Andrew Pisacane, aka Gaia, with a great attention to comfort.
The group Sorgente, which has a direct experience in the management of hotel facilities in Italy and abroad, will carry out interventions to redevelop the properties and place them on the market as assets of the fund.
Source: Milano Finanza
Translator: Cristina Ambrosi