AXA Investment Managers – Real Assets has completed, on behalf of its clients, the acquisition of the Meininger Hostel Rome, a 319-bed hostel in the centre of Italy’s capital, for €25.8 million.
The modern c. 6,300 sqm facility, which opened in 2018, is spread across six above-ground floors and comprises 118 individual rooms offering a total of 319 beds, in addition to common areas and a bar. The main tenant of the building is Meininger Hotels, who operates the hostel, and has committed to a long lease, providing stable income streams.
The hostel benefits from a strategic position in one of Europe’s most visited destinations, just 500 metres from Rome’s main train station, Termini, and in close proximity to several of the city’s main tourist attractions, while University La Sapienza and the Policlinico Hospital are also within walkable reach.
Source : Company