COIMA SGR has completed the capital raising for the COIMA Opportunity Fund II (“COF II”), reaching the expected target of €500m with the already agreed additions of the co-investment and the option to increase the subscriptions, bringing the total amount of capital raised to over €650m. The investment capacity of the fund, including the financial leverage, is over €1.5bn.
The fund represents the largest vehicle of discretionary real estate investment raised in Italy, with the presence of primary international investors, Asian and North American investors represent more than 90% of the fund, with the remaining portion represented by the principal Italian Institutional investors and COIMA SGR itself.
COIMA Opportunity Fund II follows the completion of investments on behalf of the COIMA Opportunity Fund I, with an expected net return (IRR) for investors of over 12%.
The Fund has already closed a number of acquisitions for more than 30% of its investment capacity and is in the process of deepening a pipeline. The current investments include the acquisition of two strategic sites, both located in the district of Porta Nuova in Milan with a total area of more than 100,000 m² of gross surfaces.
Manfredi Catella, Founder & CEO of COIMA SGR said: "Our commitment, together with our institutional partners, is to contribute investments that can foster sustainable development with an additional positive impact on the economy and local communities. With this fund, the largest in Italy, we have created an important vehicle which, through a fruitful and constructive collaboration with strategic partners, operators, banks, insurance companies and other institutions will be able to promote projects of heritage innovation of the real estate of Italian cities."
COIMA SGR was assisted by the law firm Gianni, Origoni, Grippo, Cappelli & Partners and the tax firm Maisto e Associati for the capital raising for the “COF II” Fund.
