Milan – 9 August 2021 – Immobiliare Angst, being a member of the Bizzi & Partner Group an experienced Italian and international player in the real estate market, has entered into a financial partnership with Intesa Sanpaolo S.p.A. and funds managed advised by CarValInvestors (“CarVal”) with the support of CELTIC AM, as operating partner, aimed at completing the real estate re-development of the property formerly known as “Hotel Angst” in the Municipality of Bordighera into 75 residential units with luxury amenities.
The “Hotel Angst” is a historic property built in the late 19th century and well known for having been an exclusive accommodation for tourists in the early 20th century. The property has been purchased by the Bizzi & Partners group to be renovated with hopes of bringing it back to its former prime status. The refurbishment and requalification project include the conversion of the former Hotel Angst into 75 prestigious residential units.
CarVal was advised by the operating partner Celtic and by Greenberg Traurig Santa Maria (GTSM) as legal counsel. The GTSM team was led by Federico Barbara and Valeria Russo on the real estate and due diligence aspects, and by Corrado Angelelli, Antonio Izzi, Giulia Romanò and Francesca Muci for the finance and structuring aspects.
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