Antirion Global acquires the former BNL headquarters in via Veneto in Rome
Antirion SGR - through its Antirion Global fund Hotel sector - acquired a trophy asset in via Veneto in Rome, the former headquarters of the Banca Nazionale del Lavoro for about 270 million euro.
The asset, with its 26,700 gross sqm, will become one of the most visible and modern luxury hotels in the capital.
According to Auraree, Antirion Ceo Ofer Arbib commented: “This investment follows our strategy of geographical diversification with a long-term perspective. The assets we acquired are leased to high-profile tenants and are located in one of the most liquid and appealing areas of the Capital.
Studio PR/LAW and Chiomenti provided assistance to the parties in the transaction.
The PR/LAW Firm assisted the Antirion Global Fund – Hotel sector, managed by Antirion SGR SpA, in the acquisition with a team led by the founding and managing partner Pietro Rovati, assisted by lawyer Pietro Toniolo.
Chiomenti has supported BNL in the sale of the property, with a team made up of Luca Fossati, Luca Liistro and Arnaldo Cremona.
Interview with Mr Pietro Rovati, founding and managing partner of PR/LAW
How does this deal currently represent the investment scene in the hospitality industry in Italy?
This transaction confirms the strategic relevance of the hospitality sector in Italy, which has continued to grow and adapt in the last years, thanks to the ever-increasing demand for quality structures. We were proud to assist Antirion SGR in this project, which aims at covering the “niche” market of high luxury hotel structures in downtown Rome, which is not as well developed as one might expect.
From a lawyer’s perspective, this deal serves to demonstrate how smaller law firms with a “boutique” approach like ours are able to assist key market players and international investors in important transactions just as well as, if not better than, full-service law firms, by playing to our unique strengths (i.e. fast response time, tailored approach to the needs of the Client and full attention to every single project).
Why was this a good deal for all parties involved?
As mentioned, the acquisition of a structure with such historical significance in downtown Rome is a strategic move for Antirion SGR, who will be able to strengthen its presence in the Rome market with the addition of a high luxury hotel structure. Moreover, both parties actually requested to close the deal within the end of 2019 (starting from the first half of November 2019), which gave us a very short timeframe for both the due diligence and negotiation phases. Being able to accomplish our task in such little time, maintaining our high-quality standards and with the full satisfaction of our Client is a matter of pride for us.
How did your team ensure all parties involved in this transaction were happy with the concluding deal?
Here at PR/LAW we always strive to provide the best legal assistance on all matters pertaining to real estate transactions, such as administrative, regulatory, planning & building and tax matters. I strongly believe that, aside from the positive outcome of the deal, which is, of course, one of the main reasons of satisfaction for all the parties involved, putting the requests of the Client at centre stage in any phase of the process and showing our commitment to perform high-quality work under all circumstances is what distinguishes us.