​Coima agrees new €70m financing for two Milan assets

COIMA Res has agreed a new €70m financing for its Tocqueville and Monte Rosa properties in Milan.

The Borsa Italiana listed real estate company said it entered into the new financing agreement with Banca IMI, BNP Paribas, ING Bank and UniCredit.

Coima also said it has agreed a 2-year extension of the €149.3m facility related to Vodafone Village and the Deutsche Bank branches portfolio with the same pool of banks, raising that facility’s maturity to 5 years.

Coima’s average weighted debt maturity will now be 5 years, compared to 3 years, previously.

Manfredi Catella, the founder and CEO of Coima Res, said: “Having been able to confirm our attractive financing conditions while extending the overall debt maturity validates the prime quality of our underlying properties, our consolidated collaboration with leading banking institutions and the resilience of the Milan real estate market.”