Coima Leads €200m Restoration of Venice's Iconic Hotel
Deal News | Jun 16, 2025 | COIMA SGR SpA
COIMA SGR, in collaboration with Eagle Hills, has finalized an agreement to purchase the full debt of the Grand Htel des Bains, a historic property in Venice, facilitating a comprehensive €200 million restoration project. The restoration effort is underpinned by the newly established COIMA Des Bains Fund, jointly funded by the COIMA ESG City Impact Fund and Eagle Hills, reflecting a robust commitment to sustainable urban regeneration. This strategic move marks Eagle Hills' significant entry into the Italian market, further expanding its European influence. The venture involves partnerships with numerous institutional investors and highlights Italy's growing political and economic stability, echoed by strengthening ties with the United Arab Emirates. The Grand Htel des Bains restoration is poised to revitalize one of Venice's most iconic locales, historically celebrated since the early 20th century. It reflects a broader strategy towards enhancing iconic destinations and underscores COIMA's dedication to sustainable investment and heritage preservation.
Sectors
- Real Estate Investment
- Hospitality & Tourism
- Urban Regeneration
Geography
- Italy – The Grand Htel des Bains is located in Venice, Italy, and the restoration project is a significant investment development in the country.
- United Arab Emirates – Eagle Hills, a key partner in the project, is based in the UAE, representing a strategic international partnership.
Industry
- Real Estate Investment – The article discusses COIMA SGR's involvement in the restoration and management of real estate assets, specifically their investment in the Grand Htel des Bains.
- Hospitality & Tourism – The article details the restoration of the Grand Htel des Bains, a significant hospitality project that aims to enhance Venice's tourism sector.
- Urban Regeneration – The restoration initiative is part of a larger urban regeneration effort, as highlighted by the involvement of the COIMA ESG City Impact Fund.
Financials
- €200 million – Total investment amount planned for the restoration and modernization of the Grand Htel des Bains.
- €54 million – Nominal value of the debt acquired by COIMA against the Grand Htel des Bains hotel.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| COIMA SGR SpA | Bidding Companybuyer | Company | An investment firm specializing in the management of real estate assets in Italy, pivotal in acquiring the Grand Htel des Bains' debt for its restoration. |
| Eagle Hills | Partner | Company | A real estate development and investment company based in Abu Dhabi, partnering with COIMA for the Italian venture. |
| Intesa Sanpaolo | Selling Company | Company | One of the lenders from which COIMA secured the Grand Htel des Bains' debt. |
| Altea SPV | Selling Company | Company | A securitization vehicle involved in the debt arrangement of the Grand Htel des Bains. |
| Federico Marchetti | Investor | Person | Entrepreneur and founder of YOOX Net-A-Porter Group, participating in the COIMA Des Bains Fund. |
| Mohamed Alabbar | Executive | Person | Chairman and founder of Eagle Hills, involved in the revitalization project. |
| Manfredi Catella | CEO | Person | Founder and CEO of COIMA, pivotal in driving the strategic partnership with Eagle Hills. |