Osborne Clarke advises Ruby Group in negotiations with Kervis SGR for the development of a new lifestyle hotel in Milan's Isola district

Osborne Clarke advised Ruby Group, as future tenant, in negotiations with Kervis SGR S.p.A., as manager of the Kervis Real Estate Fund II investment fund, as developer and future lessor, in relation to a contract for the development and conversion of a real estate complex owned by the Fund, as well as the subsequent lease agreement for hotel use.

The transaction concerns a property located in the Isola district of Milan, between Via Stelvio and Via Lario, which will undergo development and conversion in line with the Ruby Hotels brand standards, the lifestyle brand of the IHG Hotels & Resorts hospitality group. The project involves the construction of a hotel with approximately 128 rooms, which is currently scheduled to open in 2028, upon completion of the works.

Osborne Clarke assisted Ruby Group with a team led by partner Simone Monesi, assisted by associate Roberto Salis and junior associate Giovanna Costa for all real estate aspects of the transaction.

Greenberg Traurig advised Kervis SGR S.p.A..