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Blackstone acquires the assets of Reale Compagnia Italiana, including Me Milan il Duca Hotel

Tuesday, 08 February 2022 09:34

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.

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