Blackstone has acquired the entire capital of Reale Compagnia Italiana (and the Me Milan il Duca Hotel), a historic Milanese real estate company with over 300 shareholders and a real estate portfolio of 14 trophy office, commercial, residential and hotel assets mainly in Milan.
Towards the end of last year the U.S. company reached a joint venture agreement with the Aeroviaggi group, and now it kicks off the new year with the acquisition of Reale Compagnia Italiana.A building in Via di Monte Napoleone and the Me Milan il Duca Hotel
One of the top properties in the Reale Compagnia Italiana portfolio is a building in Via Monte Napoleone which has the Cova pastry shop, acquired by Lvmh for €32.8 million in 2013. Then there is the Me Milan il Duca, a 132-room 5-star hotel in Piazza della Repubblica that was fully renovated in 2015 at a total investment of €19.5 million. The property has therefore seen its turnover rise from the €8.9 million of seven years ago, to a peak of €17.6 million in 2019 although it dropped 63% in 2020 after the pandemic outbreak. Blackstone was assisted by Dils for the management of the commercial aspects linked to the acquisition of the Reale Compagnia Italiana.
