COIMA is a group that has been involved in sustainable real estate investment and development in Italy for over 40 years. In recent years we have developed and still manage 34 LEED-certified buildings, representing approximately 76% of our portfolio.
This is in addition to 15 properties under development, 10 of which will also receive the WELL certification. One of our most significant projects is the co-investment, co-development and ongoing management of the Porta Nuova project in Milan, one of the most prestigious urban redevelopment plans to have taken shape in Europe.
COIMA is a group that has been involved in sustainable real estate investment and development in Italy for over 40 years. In recent years we have developed and still manage 34 LEED-certified buildings, representing approximately 76% of our portfolio. This is in addition to 15 properties under development, 10 of which will also receive the WELL certification. One of our most significant projects is the co-investment, co-development and ongoing management of the Porta Nuova project in Milan, one of the most prestigious urban redevelopment plans to have taken shape in Europe.
COIMA funds have consistently outperformed expectations and delivered above-average market returns. In particular, the Porta Nuova Garibaldi fund was awarded best Italian specialised fund in terms of performance for two years in a row by MSCI.
In 2020, the Group recorded overall stabilised assets under management of over €8 billion, with the aim of reaching €10 billion in the next three years.
Our ESG objectives for the next few years follow the decarbonisation guidelines of the European Union. 100% of our new developments will be already aligned with the 2050 decarbonisation target of 2°C and will be both LEED and WELL certified. Furthermore, each new project will be subjected to ESG performance assessment through proprietary analytical metrics, identifying specific objectives and measurable ESG parameters through the calculation of a rating that will lead to verification of compliance with these objectives.
In March of this year, COIMA SGR, in application of the European regulation 2019/2088 (SFDR), decided to adopt the “comply” approach when considering the negative effects of its investment decisions on ESG sustainability factors.
Over the past five years, COIMA has contributed to urban regeneration projects with an economic value of over €3 billion, with investment forecast for up to a further €5 billion over the next five years.
Among the main projects underway, the Group is active in Milan both with the Porta Romana railway yard, which will be home to the Olympic Village for the athletes of the 2026 Winter Olympics, in the Valtellina area within the Farini railway yard, and in the north-eastern district of the city, with Porta Nuova. These projects reaffirm COIMA’s leadership in neighbourhood urban regeneration, that will be able to capitalize on the experience gained with Porta Nuova. Named as the best urban regeneration project in the world at MIPIM 2018, the area represents a sustainable urban laboratory focused on people, community, integration and resilience.
On behalf of leading sovereign wealth funds and institutional investors from Europe, the United States, Canada, Asia, the Middle East and Italy, COIMA focuses its investment program on regeneration in Italian cities with projects that can contribute to urban economic development and the creation of new innovative formats in terms of environmental sustainability and social inclusion, particularly at the neighbourhood level.
Over the last five years, COIMA has raised approximately €1.8 billion from primary institutional investors, mostly direct and discretionary, 66% of which are international. The aim for the next few years is to raise an additional €2 billion on the market.
Following the launch of the COIMA ESG City Impact Fund last July - with an equity target of over €1 billion - COIMA will launch new thematic investment vehicles in the next 18 months that allow it to invest according to its strategic lines:
• an evergreen fund with a focus on prime assets and a develop-to-core strategy, with a collection target of €2 billion and first close expected in 2021
• a PRS (Private Rented Sector) fund with investment capacity in all residential subsectors (student housing, senior housing, etc …) and a target of €1 billion with first close in 2022
• COIMA OPPORTUNITY FUND III with value-add strategy operating across various asset classes, with a target of €500 million and first close in 2022
