Coima to invest €400m in social housing via new fund

Italian real estate fund manager COIMA SGR is expanding into social housing with the launch of a vehicle backed by Italian pension funds and the creation of a development partnership with a consortium of housing co-operatives.

COIMA SGR said it intends to raise an initial €300m for COIMA Housing Fund, the new closed-end real estate fund that targets a €400m fundraise.

COIMA Housing will focus on the development of social and subsidised housing, as well as student accommodation.

The fund’s primary investor and sponsor is COIMA ESG City Impact Fund, COIMA’s urban regeneration environmental, social and governance fund that is backed by the ENPAM Foundation, Cassa Forense, Cassa Dottori Commercialisti, Inarcassa, BCC Credito Cooperativo, Foundation CARIPARO and Compagnia di San Paolo as well as Coima SGR.

Banking group Intesa Sanpaolo is also expected to commit to the COIMA Housing fund.

As part of COIMA SGR’s expansion into social housing, the manager said it created a new platform in partnership with Consorzio Cooperative Lavoratori (CCL) to provide a new model for the development of social and subsidised housing.

The platform’s first project, which will be undertaken through COIMA Housing, will provide 320 homes as part of the wider large-scale regeneration of the Porta Romana railway yard, home to the 2026 Winter Olympic Athletes’ Village.

COIMA Housing will invest to transform the Olympic Village into student housing after the 2026 Winter Olympics.

Manfredi Catella, co-founder and CEO of COIMA, said: “Shared values and principles inspired the agreement with CCL, joining forces in a commitment to contribute to the evolution of our cities with objectives of social and environmental impact. The partnership with CCL and the cooperative world will enable complementary experiences and skills to be put to work in collaboration with key public and private stakeholders.

”At the same time, the launch of the industrial platform dedicated to urban regeneration and sustainable infrastructure together with Intesa San Paolo will help to accelerate and scale up strategic projects for the country.”

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