Morri Rossetti assisted Faberstone Capital in the crowdfunding to find the financing for the development of the luxury condo hotel “Castellero Timeless Charm Resort” through the renovation and refurbishment of the Castellero castle, which is a historic castle of the 14th century located in one of the most exclusive areas of Piedmont, between Monferrato and Langhe.
For this purpose, Faberstone Capital (the company which inherited the Italian private equity portfolio management of the former Barclays Private Equity in 2011), headed by its founder Marco Pennisi, has incorporated Palma S.p.A., a special purpose company which will deal with the project development process and with the restructuring.
Morri Rossetti assisted Palma S.p.A. in the structuring of the transaction, in the defining of the investment agreements and in the different corporate phases aimed at the entry of financial investors in the share capital. Morri Rossetti worked with a team formed by partner Cristina Cengia, the senior associate Roberta Incorvaia and the associate Claudia Bosco, whereas partner Fabrizio Pacchiarotti managed tax aspects of the transaction.
The innovative accommodation project will allow, as from next September, the sale of suites in the form of condo hotel to potential investors, who will benefit from the revenues of the touristic rental of the suites.