Cattolica Immobiliare - Purchase of quality property in Rome's historic centre
With this property, which is leased to a leading Italian telecommunications group, the diversified assets of Fondo Girolamo, which specialises in income investments in offices, now exceeds €120 million
Verona, 10 December 2020. Cattolica Immobiliare has added to its assets under management with the purchase by Fondo Girolamo of an historic property for office use located right at the centre of Rome, at Via Santa Maria in Via 3/6, only 200 metres from the Trevi Fountain. The property, sold by Due Fondo Portafoglio, an AIF managed by Kryalos SGR, comprises two buildings with seven floors including a basement, covering a total area of 13,000 square metres.
The transaction was initiated, negotiated and structured by Cattolica Immobiliare and Savills IM SGR and carried out through Fondo Girolamo, a real estate AIF, established and managed by Savills IM SGR and fully subscribed by the Cattolica Group, which specialises in core offices leased to tenants of high standing. As a result of this transaction, the Fund has acquired a new income investment property for the third time in a year, following the two buildings purchased in the Bicocca district of Milan in December 2019 and July 2020 (respectively, the property at Viale Sarca 222 and the adjacent Pirelli Learning Center).
Salvatore Ciccarello, Chief Executive Officer of Cattolica Immobiliare, commented: “Despite the slowdown caused by the pandemic, the real estate market can offer attractive opportunities to professional, agile investors that are well-prepared and have a long-term strategy. We are very proud of this transaction, which has enabled us to add another quality property to Fondo Girolamo's stock, this time in a strategic location in the capital's historic centre. Rome is the Italian city with the most potential in terms of urban planning and infrastructure. If this is comes to fruition, it will undergo the same dazzling 'urban rebirth' that Milan has been experiencing in recent decades.”
Giuseppe Oriani, Chairman of Savills Investment Management SGR, commented: “We are delighted to have completed this major investment, which is part of a journey we started more than four years ago with the Cattolica Group, developing investments totalling more than €600 million. The key stages of the collaboration with the Cattolica Group include the investment in Fondo Mercury, dedicated to the food retail segment, and later the FIS fund, dedicated to investments in health care property. Both of these funds have received the IPE Silver Award for innovation and for the associated ESG and Impact Investing of the investment structures completed. The new programme of office investment captures an opportunity to balance the portfolio in terms of sectoral exposure while conforming to the principle of investing in assets with a high level of financial soundness and prime real estate standing”.
Paolo Bottelli, Chief Executive Officer of Kryalos SGR, commented: “This major transaction confirms that, even in a difficult market phase, investors are interested in property that is strategic in terms of both the tenant's business and location, providing considerable future opportunities if incorporated within a long-term strategy.”