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Coima to green historic Rome portfolio

7th May 2024

Coima has bought a portfolio of Rome office buildings, with the intention to boost their sustainability.

The Italian investment manager has acquired a fund which owns three government-occupied buildings: Palazzo Verospi and Galleria Sciarra (pictured above), both in the Via Del Corso area and Palazzo Monte in the Campo de' Fiori area. The 484,375 sq ft portfolio has a total value of more than €200 million ($215 million), Coima said.

It will implement an asset management strategy aimed at improving the energy efficiency of the buildings, reducing their carbon footprint, and securing BREEAM certifications.

Coima is also seeking to convert the fund to Article 8 status under the European Sustainable Finance Disclosure Regulations (SFDR), designating it as a fund to promote positive social and environmental outcomes.

The acquisition was made through COIMA’s Core Fund I and Core Fund II, which are backed by Italian institutional investors and focus on the acquisition and management of income-producing properties in major Italian cities.

The transaction was supported by the issuance of a green loan from pool of banking institutions consisting of Credit Agricole, BPER and ING.

Gabriele Bonfiglioli, COIMA's chief investment officer, said: “COIMA is honoured to take on the management of these important and historic buildings in the heart of Rome, with the aim of improving their sustainability performance and ensuring they remain fit for the future. Rome is a strategically important market for COIMA and a city with great potential for urban redevelopment projects focusing on driving positive social and environmental impact.”

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