Patron Capital, the pan-European institutional investor focused on property-backed investments, and Investire SGR S.p.A, a leading asset and investment management company in Italian residential property and part of the Banca Finnat Group, have established Rome Resi 1, a real estate investment fund (FIA), targeting residential development opportunities in Rome.
The joint venture has already acquired its first site, which has a building permit in place for the construction of a 9,300 sq m complex with a GDV of c. €70 million. Due for completion by the end of 2026, the development will comprise 110 apartments, as well as 105 parking units, and residents will benefit from a range of amenities, including a concierge desk, lounge area, communal roof top, coworking area, gym and a play area for children.
The joint venture partners will target the creation of c. €150 million of similar ESG-led projects and opportunities in Rome’s most sought after neighbourhoods with size ranging between 50 and 200 apartments.
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.
Matteo Busà, Partner of Patron Capital said: “This joint venture with Investire will allow us to take advantage of the attractive supply-and-demand dynamic that underpins the residential market in Rome, while working with a best-in-class partner. Having already committed to our first development opportunity, we look forward to deploying further capital in line with our strategy and have already identified a healthy pipeline of opportunities.”
Alessandro Polenta, Managing Director of Investire SGR said: “This new fund with Patron confirms Investire SGR’s commitment to the development of the residential market through the regeneration of existing buildings and the creation of high quality assets. The capital is proving to be an attractive residential market for many investors, particularly in the context of major events such as the Jubilee, and we believe that initiatives such as the launch of this new fund will allow us to consolidate and accelerate a responsible pipeline of urban regeneration and socio-environmental redevelopment that maximises all the development potential that Rome offers.”
Media Enquiries to:
Polly Warrack/James Carnegie/Laurence Hill
t: +44 (0)7808 541191
SEC Newgate
e: patron@secnewgate.co.uk
Giulio Sarti, Comin & Partners
t: +33 (0) 333 225 4536
e: giulio.sarti@cominandpartners.com
Notes to Editors
About Patron Capital Partners
Patron represents approximately €5.2 billion of capital raised across several funds and related coinvestments, 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 106 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 63 people, including a 37-person investment team.
Further information about Patron Capital is available at www.patroncapital.com
About Investire
Investire SGR is a leader in the Italian real estate market, managing €7 billion of properties, more than 60 real estate funds and SICAFs, and a specialized team of 140 professionals with deep experience in the real estate sector (office, residential, retail, healthcare, hotel and logistics). Investire SGR offers fund management, asset management, advisory, acquisition and development services and partners with Italian and international investors. For further information please visit www.investiresgr.it or follow https://www.linkedin.com/company/investire-sgr/.
