Dea Capital Re secures a 300 million green loan for the Four Seasons in Rome

A 300 million green loan to bring the Four Seasons to Rome. DeA Capital Real Estate announced yesterday the refinancing of the Millennium Luxury Fund, the real estate FIA subscribed to by Fort Partners, which is its main investor.
The new green loan agreement, with a term of five years, extendable for a further two, for a total of 280 million, will support the redevelopment project for the property located in Piazza San Silvestro in Rome, as well as the redevelopment of the square in front of the building. Crédit Agricole’s Investment Banking division acted as sole underwriter and bookrunner for the green loan, alongside DeA Capital Re, Dla Piper and Dentons.

Millennium Luxury Fund is a value-added fund dedicated to the redevelopment of Palazzo Marini, which will house the new “Four Seasons Hotel Rome”.
The project involves the transformation of Palazzo Marini, which overlooks Piazza San Silvestro, into a luxury hospitality destination with 127 rooms. During the same period, the Carr0n Group was also awarded a further contract, as general contractor, for the second phase of the architectural, construction and services works at Palazzo Marini. Fort Partners is a privately-owned property and hotel development company, led by entrepreneur Nadim Ashi, which continues to expand globally, with several Four Seasons projects currently underway in Italia, Greece and Spain, as well as the introduction of The Surf Club brand in a number of historically significant properties in Italia.

“The completion of this refinancing transaction, which contributes to the arrival of the Four Seasons Hotel in Rome,” said Giancarlo Scotti, chairman of DeA Capital Real Estate, “represents a success not only because of the significance of the green loan that Crédit Agricole has chosen to make available to the fund, but above all, an economic development of great significance for the city of Rome, where, thanks to a reliable investor of great international standing such as Fort Partners, one of the world’s leading hotel brands is set to arrive.”

For DeA Capital Re, the transaction also represents the key to reviving its property business, pending the remedial plan to be submitted to the Bank of Italy, in all likelihood, before the summer break.
“Structuring a green loan that is potentially aligned with the EU Taxonomy for one of Rome’s most iconic regeneration projects,” added Jamie Mabilat, senior country officer at Crédit Agricole Cib Italia, “demonstrates how decarbonisation and value creation go hand in hand.”