Real estate investment lender Coima Sgr has secured a €50 mln investment from CDP Real Asset to transform the 2026 Winter Olympics Village into Italy's largest PBSA development.
The investment comes from Italy's sovereign wealth fund, CDP, through its National Fund for Sustainable Housing (FNAS). FNAS promotes sustainable and socially impactful real estate projects valued up to €1 bn.
This partnership adds CDP Real Asset to Coima's ESG City Impact Fund (Coima Impact), the largest urban regeneration fund in Italy. Coima Impact has so far raised over €900 million from prominent Italian institutional investors. Due to this success, the fund's target has doubled from €1 bn to €2 bn, and Coima is seeking additional capital.
Coima will establish a new fund to utilize the €50 mln for the 1,700-bed student housing project at Porta Romana. This fund will be backed by FNAS and the Coima Housing Fund, a real estate fund dedicated to sustainable living that is initially targeting €300 mln.
Manfredi Catella, founder and CEO of Coima Sgr, said: ‘The Coima ESG City Impact Fund has now raised over €900 mln from primary institutional investors, underlining the value investors continue to place on sustainable urban regeneration that generates strong positive social and economic impacts. We now look forward to the next phase of fundraising for this flagship fund, which is rated 1st place among the GRESB development peer groups in Europe and is one of the most sustainable real estate funds globally.’
Coima Housing, which develops social and subsidized housing, is backed by Coima Impact and Intesa Sanpaolo.
The wider Porta Romana regeneration plan, led by Coima with co-investors Prada Holding, Covivio, and Coima Impact, goes beyond student housing. It includes a mix of housing options like social housing, commercial spaces, and landscaped public areas like parks and gardens.
