Prodea Investments Acquires Hilton Garden Inn Malpensa From Aquileia Capital
Main Photo: The Hilton Garden Inn, Malpensa
Date: September 2021
Name: Hilton Garden Inn
Location: Malpensa, Milan, Italy
Number of Keys: 207
Seller: Aquileia Capital Services, subsidiary of Bain Capital Credit
Buyer: Prodea Investments
Listed Greek real estate firm Prodea Investments has acquired the 207-room Hilton Garden Inn Malpensa outside of Milan, Italy from Aquileia Capital Services, a subsidiary of Bain Capital Credit. The hotel complex is located 7 km from Malpensa international airport and 50 km from the centre of Milan. The hotel will be operated by Zeus International, which acquired the hotel leasing company Malpensa Gestioni from Aquileia.
Prodea Investments is the leading real estate investment company in Greece, listed on the Athens Stock Exchange (ATHEX). With total assets exceeding €2.4 bn, Prodea Investments engages in real estate investments. Their real estate portfolio consists of more than 350 commercial properties, primarily office and retail, but also rapidly expanding in the logistics and hospitality sector. With more than 80% of its portfolio located in prime urban areas throughout Greece and Cyprus and selectively positioned in other key markets in South East Europe, such as Italy, Prodea Investment’s boasts a high- quality, high-yielding, diversified portfolio with predictable cash flows driven by high occupancy levels, long-term lease tenures and strong tenant base. The company is headed up by Christophoros Papachristophorou, Executive Chairman.
Their hotel portfolio includes the Parklane Hotel, Limassol, the Moxy Patra Marina Hotel, Patras and the five-star Aprohodite Hills Resort, Paphos in Cyrpus.
Aquileia’s hotel activity includes the Conference Florentina Hotel, Florence – renamed the Radisson Hotel Firenze in 2020, Otherwise they have seven small hotels and bars/restaurants for sale around or less than €1m. The company is headed up by Danilo Augugliaro, CEO.
After operating under the Hilton Garden Inn brand from 2008 to 2011, they had new owners, Hypo Alpe Adria Leasing in 2013, who re-opened the property under Bierwith & Kluth Hotel Management GmbH.
THPT Comment: Interesting subsidiary of Bain, well-known as a major player with it’s hotel portfolio, that is mainly residential and commercial property owners and managers, with a small collection of hotels.
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