We’re delighted to announce the acquisition of Place4You, a company operating in the management of residential property for co-living. Place4You was set up in 2009 and ended 2018 with a turnover of more
than Euro 4 million.
The company has a property portfolio of about 130 apartments, all in Milan, to be added to the 1200 properties we already manage in Milan, Como, Turin, Bologna, Rome and Padua. This acquisition is an essential step in the strategic development plan we’ve implemented to consolidate our position of market leader in co-living in Italy. The merger will bring a significant increase in size and market share.
Valerio Fonseca, our CEO, said, “Years ago, the competition was with H4U, our previous acquisition, and Place4You. We all started at about the same time and we were mutually stimulated to do better. Today, we can still grow organically in Italy but, in effect, a chapter in the life of DoveVivo is ending and, inevitably, we must look to Europe, where we’ll start as Italian leader, certain that we’ll soon have a certain weight internationally.”