Starhotels sign 150 apartments in Florence

Starhotels sign 150 apartments in Florence

Italy: Starhotels Collezione have signed an agreement with Hines and Blue Noble to manage three of seven buildings at Corso Italia in the centre of Florence.

Global real estate firm Hines and international real estate investment manager Blue Noble are joint investors in the Future Living fund managed by Savill Investment Management SGR SpA.

A lease agreement with Starhotels has been signed for the hospitality group to manage 150 high end apartments in the new residential building Il Treatro Luxury Apartments – Starhotels Collezione. The apartments will be housed in the former Teatro del Maggio Fiorentino, the city’s old theatre.

The complex will offer concierge services, a terrace with a solarium, a wellness centre and gym, dedicated children areas, coworking space, food and beverage venues, and over 170 car parking spaces. The apartments will come to market in 2024, with a select number up for sale.

Hines has helped choose the materials, construction companies and architects involved with the project, with a focus on Italian character. The project aims to obtain LEED GOLD accreditation.

Mario Abbadessa, senior managing director and country head of Hines Italy, said: “This deal is of great significance to us, as the city’s former theatre will be reimagined as an innovative residential rental product with flexible options to meet the needs of increasing mobile guests. 

“We finalised our first investment in Florence in 2016 with the acquisition of an asset in Via Tornabuoni and we will keep investing in the city as its world renowned for cultural and artistic wealth. We believe in Florence and its future potential and our urban projects are designed to give back renewed spaces to the community, creating value for the city.”

Cavaliere del Lavoro Elisabetta Fabri, president and CEO of Starhotels, said: “This project is full of meaning for us Florentines, which was once the beating heart of music in the city. A few months before the launch of our Duomo Luxury Apartments in Milan, we are enthusiastically taking on this challenge to strengthen our presence in the high end residential market, to meet the needs of modern business and leisure traveller.”

Paul Forshaw, founding partner and CEO of Blue Noble, added: “Blue Noble welcomes Starhotels to our proposed residential rental offering in the historical city of Florence. As the city’s former theatre, the site has significant cultural heritage and historical importance. Starhotels is an Italian brand with an appreciation of Florentine culture. We believe that they are naturally positioned to reflect this in the operation of exceptional short-medium term housing solutions meeting, and exceeding, the demands of increasingly mobile guests.”

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