Invel Real Estate has formed a strategic partnership with Italian operator YellowSquare with the aim to invest €200 million in acquiring, developing and managing properties across southern Europe.
This agreement includes the creation of a new investment vehicle, wholly owned by Invel, which will acquire and develop new assets in Italy, Spain, Greece and Portugal, transforming them into new YellowSquare-managed facilities.
Additionally, Invel will subscribe a capital increase in YellowSquare, becoming a key shareholder in the company.
The joint venture is targeting a portfolio comprising over 5,000 beds. YellowSquare currently has properties in Rome, Milan and Florence and is gearing up for new openings in Turin, Venice and Bologna.
The transaction is expected to close by the end of Q1 2025.
What they said
Gabriele Magotti, chief investment officer at Invel said: “The agreement with YellowSquare allows us to address the growing demand for hybrid hospitality solutions in South Europe’s leading tourist destinations. This partnership allows us to combine YellowSquare's distinctive operational expertise with our real estate development capabilities, laying the foundation for a leading platform in the Southern European market.”
Fabio Coppola, co-founder of YellowSquare added: “Our goal has always been to create authentic links between travellers and local communities, transforming each property into a real meeting point, a ‘square’ where people can share experiences, work, have fun and feel part of a global community. Thanks to this partnership, we will be able to expand our network, bringing our hybrid hospitality model to new cities and creating new spaces for all guests seeking a travel experience that goes beyond a simple overnight stay’