06 November, Bebeez
In 2018 the investments in the Italian real estate are expected to reach 9 billion euro. These figures are slightly below the results recorded in 2017, although they’re above the average reported in the last 5 years. This the forecast by Coima, the real estate asset investment, development and management platform dedicated to institutional investors. The company presented the figures during the seventh edition of the Coima Real Estate Forum.
In the first nine months of 2018, 5.3 billion were invested in Italy in commercial real estate assets, 25% of which by national investors and the remaining 75% by international investors (24% from the US, 10% from France, 9% from the UK, 8% from Germany and 3% from Asia-Pacific).
The demand for commercial properties in Italy is growing, having gone from 760 thousand Sq m in 2015 to 2 million in 2017 (+65%). The most sought-after asset classes hare hospitality (from 630 million in 2014 to over 1.6 billion euro in 2016), co-working spaces (from 4 thousand Sq m in 2015 to over 30 thousand in 2018, although Italy is far from the numbers of other European cities), and logistics where investments have gone from 300 million in 2015 to 1.24 billion in 2017. The most attractive city for investing in commercial real estate assets is Milan which received in the first nine months of 2018 new investments for 2 billion euro, aligned with the 2017 trend (2.1 billion).
For what concerns Coima, founder and Ceo Manfredi Catella aims at investing over 3 billion euro in the next 5 years, focusing on real economy, asset classes such as offices, residential, logistics, tourism and urban redevelopment.
Catella commented: “over the last 24 months, we’ve raised and invested on behalf of primary national and international institutional investors, including seven sovereign funds with whom we regularly collaborate, capitals for over 2 billion euro. In addition, the new Coima Opportunity Fund II has recently closed with an investment capacity of more than 1.5 billion euro, confirming to be the biggest discretional real estate investment fund in Italy”.
Coima invests, develops and manages real estate asset on behalf of national and international institutional investors. On 31st December 2017, the company held real estate assets for 610.7 million, 72% of which in Milan and 75% represented by offices. The portfolio value increased by 16% in 2017: 13% through direct acquisitions and 3% net revaluations. The asset manager manages 22 real estate investments with investments for over 5 billion euro. It holds in its portfolio over 150 properties, including 30 LEED-certified buildings.
In the last 40 years, Coima srl, the development and management company of the group, has developed and managed assets for over 5 million Sq m. Among the main projects, the platform co-invested, co-developed and currently operates the Porta Nuova project in Milan and entered a preliminary agreement for the purchase of Unicredit’s Pavillon in Milan.
Translator: Cristina Ambrosi