State-owned CDP Investimenti Sgr and fund manager Fabrica Sgr have announced the launch of a new fund targeting social housing development projects in Rome.
State-owned CDP Investimenti Sgr and fund manager Fabrica Sgr have announced the launch of a new fund targeting social housing development projects in Rome.
SHR - Social Housing Roma has received an initial €35 mln of equity to develop three projects involving a total of 330 residential units.
CDP, through its €2 bn Fondo Investimenti per l’Abitare vehicle, is putting nearly €21 mln in the new fund, which has a life term of 25 years.
In total, the new vehicle is aiming to develop up to €150 mln worth of new projects in the Italian capital.
'As soon as we have started these projects, we will open the fund to any equity or asset contributions. Our target is to create a platform which will tackle the housing problems in the capital,' said Fabrica's CEO Marco Doglio.
Fabrica, controlled by developer Caltagirone and bank Monte dei Paschi di Siena, manages a total of 10 funds in Italy, with some €2.4 bn of assets.
