First Italian REIT in decade launches on Milan stock exchange

Related Asset Managers

CONSOB, Italy’s market authority, has approved COIMA RES’s listing on the Milan stock exchange.

The vehicle, launched by Manfredi Catella, is the first Italian REIT to emerge without conversion.

The total value of the IPO is around €215m.

Backed by Qatar Investment Authority, Milan-based Coima was looking to raise €330m for the vehicle.

Qatar Holding is giving the vehicle a portfolio of 96 assets leased to Deutsche Bank as bank branches in return for shares in the REIT.

Coima RES will use the proceeds from the IPO to buy the Vodafone Village office portfolio in Milan, reportedly worth around €200m.

It was first established to become an SIIQ in June last year, after winning approval from CONSOB.

So far, the country’s nascent REIT – or SIIQ (Società di Investimento Immobiliare Quotata) – regime has been taken up by existing property companies such as Aedes, Beni Stabili and Immobiliare Grande Distribuzione.


Have your say

You must sign in to make a comment


Your first step in manager selection...

IPE Quest is a manager search facility that connects institutional investors and asset managers.

  • QN-2572

    Asset class: High Yield Bonds.
    Asset region: Global.
    Size: $200m.
    Closing date: 2019-11-27.

  • QN-2573

    Asset class: Real Estate.
    Asset region: Global.
    Size: CHF 150m.
    Closing date: 2019-12-06.

Begin Your Search Now