Patron Capital, the pan-European institutional investor focused on property-backed investments, has exchanged contracts to acquire a parcel of land for a residential development opportunity in Rome, representing its first investment in Italy’s capital. This follows the final close of Patron’s seventh flagship fund, which raised in excess of €860 million, including more than €200 million of discretionary co-investment capital for larger opportunities.
The site has a building permit in place for the construction of a 9,300 sq m complex, which will comprise 110 apartments, as well as 105 parking units, and has a GDV of c. €70 million. The ESGled urban regeneration project is located in Viale delle Provincie, in near proximity to two high speed train stations and a metro station, as well as Rome’s largest university, Sapienza, and the Umberto Primo hospital. Upon completion, residents will benefit from a range of amenities, including a concierge desk, lounge area, communal roof top, co-working area, gym and a play area for children.
Works have begun on site and pre-sales for the apartment will launch in September 2024.
Matteo Busa, Partner of Patron Capital, said: “This is a compelling opportunity for us to enter the residential market in Rome. Not only is the site well located for the city’s transport links and amenities, but the fact that it already has a building permit in place means we can quickly start to execute our strategy to deliver an ESG-led development in a market that is characterised by strong levels of demand and very limited supply. Looking ahead, we are confident in the fundamentals that underpin the residential market in Rome and will look to make further acquisitions in Rome’s centre and popular residential areas in line with this strategy.”
Media Enquiries to:
Polly Warrack/James Carnegie/Laurence Hill t: +44 (0)7808 541191
SEC Newgate e: patron@secnewgate.co.uk
Notes to Editors
About Patron Capital Partners
Patron represents approximately €5.2 billion of capital raised across several funds and related co-investments, investing in property, corporate operating entities whose value is primarily supported by property assets and distressed debt and credit related businesses.
Since it was established in 1999, Patron has undertaken more than 200 transactions across 110 investments and programs involving over 9 million square metres in 17 countries, with many of these investments realised.
Investors represent a variety of sovereign wealth funds, prominent universities, major institutions, private foundations, and high net worth individuals located throughout North America, Europe, Asia and the Middle East. The main investment adviser to the Funds is Patron Capital Advisers LLP, which is based in London, and Patron has other offices across Europe including Barcelona and Luxembourg; the group is comprised of 61 people, including a 37-person investment team.
Further information about Patron Capital is available at www.patroncapital.com
