US real estate developer Fort Partners has acquired the Palazzo Marini (3-4) for €165 million with plans to develop the property into a luxury hotel that will be managed by Four Seasons Hotels and Resorts.
According to the Daily Beast, Four Seasons, which is controlled by Bill Gates's investment firm, has put down a $21 million down payment.
More details about the project will be announced at a later date.
What they said
Nadim Ashi, founder and CEO, Fort Partners, said: "A project in Rome has been a dream of mine for many years. We have a clear vision and can already see this magnificent place come to life. As with our other properties, Fort Partners' commitment to delivering top quality, excellence and elegance will be ever present in the execution of this project in the heart of Rome.”