Zeitgeist Asset Management is focusing on Italy and has acquired the Midas in Rome. This is its second investment in Italy, following last June's acquisition of an office building in the capital.
The Midas is a four-star hotel with 349 rooms in Rome’s Aurelio district
The Czech property management and development company arrived in Italy last year, thanks to a joint venture with Filippo Bianchini-Scudellari and Sebastiano Canessa. The aim is to invest up to €500 million in Italy, also through the contribution of German institutional funds. The Midas in Rome is a four-star hotel with 349 rooms in the Aurelio district. It has three restaurants, a lounge bar and cocktail garden, a conference centre, rooms for events and meetings, an outdoor swimming pool and tennis courts.
“It is a good mix of midweek and weekend business and leisure guests”
Filippo Bianchini Scudellari co founder e AD Zeitgeist Asset Management Italia
"We believe that this operation is a positive signal for a market that is currently in a wait-and-see phase, with operators trying to understand possible evolutions," said Filippo Bianchini-Scudellari, co-founder and managing director of Zeitgeist Asset Management Italia. "This is our first Roman property, and it is a good mix of midweek and weekend business and leisure guests. It is also in an interesting location thanks to the expansion project for Fiumicino airport, where a new terminal, two new runways and services are planned, allowing the airport to handle up to 100 million passengers a year.”
Zeitgeist operates in residential, offices and urban development
Zeitgeist Asset Management was founded in Prague in 2014 and develops and manages real estate assets for private and institutional investors in Germany, Central and Eastern Europe, and Italy. The sectors in which it operates are residential (with over 700 flats under management), student residences (over a thousand beds under management) and offices, as well as in urban development and energy solutions. The company manages over 45 real estate projects and has assets under management worth over €800 million.
