Limestone Capital acquires The Yard Milan

Italy: Private equity firm Limestone Capital has acquired the boutique hotel The Yard in Milan, marking the third transaction since the beginning of the pandemic for the group.

The acquisition forms part of Limestone’s vision to acquire traditionally run hotels. It’s the second hotel in Italy with partner Aethos Hotels & Clubs, joining Aethos Saragano in Umbria.

Limestone, along with Aethos, will transform the property into a tech-enabled lifestyle hotel. The company expects to continue investing from its core fund Amethyst on behalf of family offices and institutional co-investors internationally.

Alexander Schütz, partner at Limestone Capital, said: “We have sourced highly attractive investment opportunities in key markets and will continue to grow in the overall Mediterranean, particularly however in Italy’s hotel real estate market, which is highly fragmented and has a lot of untapped potential.”

Managing partner Benjamin Habbel added: “The combination of Limestone’s hands-on, vertically integrated asset management approach and a tech-enabled operating platform, headed by highly experienced hoteliers and technology entrepreneurs, delivers rapid value creation for our fund investors and partners.”

Limestone Capital is a fully integrated investment firm focused on the hospitality sector. The group intends to expand into additional European cities and has a strong pipeline of deals to follow.

Aethos Hotels & Clubs is a hospitality group delivering technology solutions to optimise returns for owners.

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