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

Coima sgr, founded and led by CEO Manfredi Catella, 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. The Porta Nuova Centrale fund has secured a $181.6 million (€173.5 million) loan assisted by a green guarantee from SACE.

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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.

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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.

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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.

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(Featured image by Orlandow via Pixabay)

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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.

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Daphne Freeman has worked in the crowdfunding and impact investing industry for the past few years, gaining experience in marketing, and connecting businesses and entrepreneurs in need with the right investors. As a seasoned grant writer as well as financial market journalist, she is passionate about making a social impact in the world. A free spirit, Daphne also enjoys writing and exploring topics of interest, currently CBD, health and beauty, and social media influencers.