Main Photo: Radisson Collection Milan – imagined
Date: May 2019
Location: Milan, Italy
Name: The Radisson Collection Santa Sofia Milan – opening 2022
No. of Keys: 160, including 43 junior suites and 11 suites
Seller: The property is the former Allianz Italia headquarters in Milan
Buyer: Radisson Hospitality AB is pleased to announce the signing of a new Radisson Collection property in Milan, Italy. Working in conjunction with Allianz, the group will redevelop the former Allianz Italia headquarters in Milan into the Radisson Collection Hotel, Santa Sofia Milan. The hotel will be managed by Allianz Real Estate on behalf of Allianz group companies.
Building from a direct equity portfolio of €16bn in 2008, their AUM grew to €63.5bn by end 2018. This positioned them as the world´s largest investor in real estate with investments spread across direct and indirect equity and debt in Europe, the U.S. and the Asia-Pacific region.
The hotel, located at via Santa Sofia 37 in the central Corso Italia district, will be part of the highly prestigious Radisson Collection portfolio.
It will join other landmark Collection properties in Rome, Venice and the recently announced Palazzo Touring Club – also in Santa Sofia, Milan.
The transformation project will create a destination hotel for both high-end cosmopolitan and business clientele. It will have 160 guest rooms, including 43 junior suites and 11 suites, while leisure and dining facilities will include a fine gastronomy restaurant and a rooftop bar with views over Milan. Guests will also have access to a wellness terrace on the fourth floor.
The hotel, which will also offer hi-tech meeting and events spaces for the local and international business communities, will benefit from the new Santa Sofia M4 underground stop, which is expected to open in 2022 and will directly connect the hotel with the city centre and Linate Airport.
Elie Younes, Executive Vice President & Chief Development Officer for Radisson Hotel Group, said: “For this hotel, we have chosen our prestigious brand Radisson Collection, an exclusive premium lifestyle brand created for unique and exceptional properties.
We are extremely grateful to Allianz for the trust they have placed in Radisson Hotel Group, in our dedicated team and in our most prestigious hotel brand. We will transform this building into a new and exclusive address for the Milanese hotel industry, contributing to the positioning of Corso Italia as a rising and attractive location.”
Donato Saponara, Head of Italy at Allianz Real Estate, said: “We are delighted to be re-positioning our Santa Sofia office asset into this prestigious hotel. The project will transform the former office building into an iconic destination, providing the very best facilities for its guests as well as enhancing the local area.
The project forms part of the exciting regeneration of the Santa Sofia area. The introduction of a hotel which focuses on gastronomy will help to restore this part of Milan into a 24/7 destination for citizens and visitors alike.”
Allianz was assisted by CBRE Hotels Italy, led by Francesco Calia, throughout the selection process and negotiation of the commercial terms of the lease agreement signed between the parties. Dentons acted as legal advisor with a team led by partner Maria Sole Insinga.
The Radisson Hotel Team, led by Mauro Vinci, Senior Director of Business Development for Italy, was assisted by Fabio Basile of the Studio Marco Piva on the technical side and by lawyer Nicola Ferrini.
THPT Comment: We’re trying to ascertain if this is Allianz first foray into hotels…we’ve asked…see this site for a further info.
First Seen: Hotel Online
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