Coima sgr’s Porta Nuova Centrale Fund Secures €173.5 Million Green Financing

The Porta Nuova Centrale fund, managed by Coima sgr, has secured a $181.6 million (€173.5 million) loan assisted by a green guarantee from SACE and disbursed by Unicredit and BPER Banca.

DLA Piper advised Coima on all legal aspects related to the organization of the financial structure and loan documentation, while GOP advised UniCredit, BPER Banca, and SACE.

The Porta Nuova Centrale fund was established in 2017 with the aim of making investments mainly in the office sector with a view to development and enhancement. The fund’s first and only investment was the purchase, following a public auction, of the building rights of 2 lots (former parking lots) alienated by the City of Milan, for total development of more than 30,000 square meters. The investment strategy includes the new construction of 2 office buildings together with the redevelopment of the surrounding public space.

Read more about Porta Nuova Centrale fund, and find the latest financial news of the day with the Born2Invest mobile app.

Coima sgr was founded and led by CEO Manfredi Catella

The company ended 2021 with assets under management up 6 percent to $9.74 billion (€9.3 billion) and aims for $10.5 billion (€10 billion) by 2024. Assets at the end of 2021 were spread across 27 real estate investment funds with a portfolio of more than 170 properties and over 200 tenants.

Last June 27th, the voluntary tender offer promoted by the Evergreen vehicle on Coima RES, the Siiq of the Coima group listed on Piazza Affari, started as announced last April. As of yesterday, June 30th, a total of about 15.1 million shares had been tendered to the opas, representing 41.808 percent of the offer, which will end on July 22nd.

Evergreen is 97% owned by Qatar Holding and 3% owned by Coima Holding, which is wholly owned by Coima GP srl & C sapa, which in turn is indirectly controlled through Coima GP srl by Manfredi Catella. As an alternative to contributing the shares to the tender offer at a price of 10 euros each, the offer provides for a consideration consisting of one newly issued Evergreen share, unlisted, for one Coima RES share brought to the tender offer. Starting now, the main shareholders of Coima RES are Qatar Holding itself (with 40.131%) and the Coima Group, which in fact have committed to contribute all their shares to the offer, totaling 41.4% of the capital.

__

(Featured image by Orlandow via Pixabay)

DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.

This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.

First published in Be Beez, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.