COIMA SGR has launched its €1bn decarbonisation strategy with the acquisition of a prime office building in Rome, marking the first investment for its COIMA Opportunity Fund III (COF III). The €50m transaction highlights the increasing investor focus on sustainable redevelopment and value creation in Italy’s top urban centres.
Situated in the historic Trastevere district on Via Carcani, the nine-storey, 7,500 m² building is currently leased to the Ministry of Universities and Research. COIMA plans to transform the asset into high-efficiency residential housing through a full sustainability refurbishment. The site forms part of Rome’s Urban Regeneration Programme for the Porta Portese area, which aims to revitalise public spaces, upgrade the Via Portuense corridor, and reimagine the Tiber riverfront.
The redevelopment will aim for LEED certification and integrate renewable energy sources, supported by an €18m green loan from BPER. For developers and investors, the project offers an appealing route to repurpose underutilised government assets into ESG-compliant, high-demand urban housing in one of Europe’s most supply-constrained residential markets.
“The completion of the first transaction of COIMA Opportunity Fund III is an important milestone as we execute our strategy focused on decarbonising real estate through building-reuse to align it with the requirements of the energy transition,” said Gabriele Bonfiglioli, Chief Investment Officer, COIMA. “Over the past 12 months, we have invested more than €500 million in Rome, mainly focused on enhancing existing buildings and particularly office-to-residential conversions.”
COF III is classified under Article 8 of the EU SFDR regulation and is targeting a net annual IRR above 15%. It has secured backing from a sovereign wealth fund and, for the first time, is being opened to wealth management clients through an exclusive vehicle offered by Fideuram - Intesa Sanpaolo Private Banking. This expansion into private capital is expected to broaden participation in institutional-grade sustainable assets.
With over €500m already deployed in Rome, COIMA is aiming to double that figure within 24 months. This move reinforces Rome’s emergence as a leading testbed for large-scale ESG-focused urban renewal, aligning regulatory support, financial innovation, and shifting demographic needs.
People mentioned
Gabriele Bonfiglioli – Chief Investment Officer, COIMA
Companies mentioned
COIMA SGR – Real estate investment, development and asset management platform
COIMA Opportunity Fund III – Value-add fund focused on building reuse and energy transition
BPER – Financing partner providing €18m green loan
Fideuram - Intesa Sanpaolo Private Banking – Wealth management partner offering exclusive investment vehicle
Image source: Provided by COIMA
