LONDON, Nov. 4, 2022 /PRNewswire/ -- King Street Capital Management ("King Street"), a leading global alternative investment firm, and Omnam Investment Group ("Omnam Group"), a diverse global real estate investor and developer, today announced that it has completed the sale of the W Rome ("the Property" or "the Hotel") in Rome, Italy to a joint venture between CPP Investments ("Canada Pension Plan Investment Board") and Hamilton Pyramid Europe. King Street partnered with Omnam Group and Kryalos SGR Group in 2017 to acquire two office buildings that were converted into the luxury best-in-class hotel.
The Property is the first W Rome in Italy and opened in April 2022 following a complete renovation. Distributed across two 19th century buildings in a prime location in the historic Ludovisi district, the W Rome is ideally situated for corporate and leisure travelers. The Hotel is near the renowned Via Veneto and famed tourist sites, as well as many corporate occupiers and embassies.
The Hotel, which is BREAAM certified, features 162 guest rooms, 48 private balconies, exclusive terraces on the top floors, an exquisite rooftop with bar and swimming pool as well as a lush inner courtyard garden. In addition, it boasts a unique food and beverage offering including Giano Restaurant, led by two-Michelin star chef Ciccio Sultano, Zucchero, a pastry shop by world-renowned pastry chef Fabrizio Fiorani, and the W Lounge.
Paul Brennan, Managing Director and Head of European Real Estate, King Street, said: "The transaction is representative of King Street's ability to successfully reposition and deliver a trophy hotel into a difficult-to-access market which has an under-representation from major international brands."
King Street has committed over $4 billion of equity across more than 60 private real estate transactions since 2010 and has invested meaningfully in the Italian property markets to-date.
David Zisser, CEO and Founder, Omnam Group, said: "The transaction is a testimony of the strengthening of the Roman market and the W brand. This sale demonstrates Omnam's ability to create lifestyle luxury experiences that celebrate their destinations, whilst honouring its environment."
King Street and Omnam Group were advised by DLA Piper.
King Street is a global alternatives investment firm founded in 1995 that manages approximately $22 billion in assets across public and private markets. The firm marries rigorous fundamental research with tactical trading and differentiated sourcing capabilities to identify misunderstood and complex investment opportunities across asset classes, up and down the capital structure. For more information, please visit www.kingstreet.com.
Omnam is a global real estate development and investment firm with an incisive vision to unearth iconic urban & resort destinations. Its expertise in operations-led hospitality, food and beverage, design, art and restoration is bar none. Omnam's objective is to refine rough gems into rare jewels, internationally and across the whole range of hospitality products: luxury and lifestyle mid to large scale hotels, single or mixed-use projects, ground-up and historic rehabilitation. Founded in 2011 and headquartered in London, Omnam's European portfolio includes projects in Italy, France, Belgium, and The Netherlands. For more information, please visit www.omnamgroup.com.
Media Contacts
Prosek Partners for King Street
pro-kingstreet@prosek.com
Noa Diamant for Omnam Group
noad@omnamgroup.com
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