European real estate fund manager Patron Capital and Italian residential property investor Investire have teamed up to target €150m worth of development opportunities in Rome.
The pair have set up Rome Resi 1, a real estate investment fund that has already acquired its first site to build a €70m residential complex.
The 9,300sqm complex, comprising 110 apartments and 105 parking units is expected to be completed by the end of 2026.
Rome Resi 1 is expected to target silimar projects and opportunities in “Rome’s most sought-after neighbourhoods” with sizes ranging between 50 and 200 apartments, the companies said.
Matteo Busà, partner of Patron Capital, said: “This joint venture with Investire will allow us to take advantage of the attractive supply-and-demand dynamic that underpins the residential market in Rome, while working with a best-in-class partner.
“Having already committed to our first development opportunity, we look forward to deploying further capital in line with our strategy and have already identified a healthy pipeline of opportunities.”
Alessandro Polenta, managing director of Investire, said: “This new fund with Patron confirms Investire SGR’s commitment to the development of the residential market through the regeneration of existing buildings and the creation of high-quality assets.
“The capital is proving to be an attractive residential market for many investors, particularly in the context of major events such as the Jubilee, and we believe that initiatives such as the launch of this new fund will allow us to consolidate and accelerate a responsible pipeline of urban regeneration and socio-environmental redevelopment that maximises all the development potential that Rome offers.”
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