Second acquisition for iAM Capital Group in Italy. Through the iAM Capital Europe II Fund (“ICE II”) and its local partner, Mr. Andrea Della Valle, the London-based company has acquired the Capo Mimosa tourist complex, a former camping site located in Cervo (IM). Local entrepreneurs sold. The lot covers an area of 5.5 hectares. The project involves the complete redevelopment of the area and the construction of a 5-star beach front resort, with 90 suites and villas, a beach club, a Michelin-starred restaurant and spa facilities. For iAM Capital it is the second acquisition in Italy aimed at converting assets into 5-star hotels. The first acquisition was that of Palazzo Sanzio in Rome, in September 2022, which took place through iAM Hospitality Fund, a fund focused on hospitality managed by Castello SGR, with iAM Capital Group as single investor. The property will be converted into a 5* lifestyle hotel with around 70 keys, as well as a restaurant, SPA, and other services. According to the THRENDS Luxury Hotels Database, there are currently 4 luxury hotels in the province of Imperia (about 300 keys). In Sanremo, the second 5* of the destination is under construction, the 100-key Hotel Portosole, which should be completed in the next two years. The opening of the Borgo del Forte residential-hotel complex in Ventimiglia is scheduled for 2026, which will consist of a 5-star hotel with 70 keys, while the residential component will include 60 high-end apartments with terraces overlooking the marina of the city.