VENICE, Italy—Hines Italia SGR has taken over the management of the “Real Venice I fund” from the previous manager, Est Capital SGR, represented by Angelo Pappadà, the special commissioner appointed by the Bank of Italy.

Real Venice I owns a number of properties on the Venice Lido, including the hotels Excelsior and Des Bains. These two cultural and historical landmarks will undergo renovation, starting with a series of works to ensure the Hotel Des Bains is safe and secure.

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