Milan, 17 July 2024 – COIMA SGR (“COIMA”), a leading Italian company specialising in the investment, development and management of real estate assets on behalf of institutional investors, has been selected by CDP Real Asset SGR (‘CDP’) following the procedure launched in November 2023 by CDP for the sale of the former Guido Reni Barracks area in Rome.

The Guido Reni real estate complex - which is not subject to a restriction by the Ministry of Cultural Heritage and Activities - is located in the northern area of the city, within the Flaminio district, which has recently undergone a redevelopment process that has boosted its attractiveness as a cultural and recreational hub for the city (Auditorium, Maxxi Museum, Ponte della Musica).

In the area, which extends over more than 5 hectares in the historic centre of Rome and is occupied by 23 factory buildings, used in the past as factories, warehouses, and laboratories, a mix of free residence, social housing, commercial spaces, accommodation, a neighbourhood library, equipped green spaces, and car parks is planned. Moreover, the project will contribute financially to the development of the public area with the creation - by the Municipality of Rome - of the new Museum of Science, a public cultural centre that will be accessible through the new neighbourhood square.

The lot is the subject of an Integrated Intervention Programme (IIP) approved by the Lazio Region in December 2021 and a Land Reclamation Plan approved in September 2023.

The IIP envisages that, out of a total of 45,000 square metres of buildable area, 35,000 square metres will be dedicated to residential use, of which 29,000 square metres will be at open market rates and 6,000 square metres dedicated to the construction of subsidized housing (60% for sale and 40% for rent); approximately 6,000 square metres will be dedicated to hotels; and a further 4,000 square metres will be used for neighbourhood services.

The project envisages a total investment of over 350 million euro that will contribute to the wider regeneration of the Flaminio district, a highly attractive and lively area thanks, among other things, to the presence of the Maxxi and to already planned interventions such as the restyling of the ‘Ennio Morricone’ Auditorium Parco della Musica.

COIMA SGR will make use of the Group company COIMA REM for Development Management activities, in the belief that qualified and consolidated technical experience is decisive in the value creation process of an investment such as this and in the control of operational risks.

The agreements with the Municipality of Rome provide for the transfer to the Municipality of Rome of the areas in Area B, for a portion of the lot amounting to approximately 13,000 square metres, to be used for the construction of the Science Museum, and the payment of an extraordinary contribution of €43 million to the Municipality of Rome for its construction.

COIMA, while respecting the characteristics of the urban fabric, will bring to the regeneration of the area the experience gained in the development of district-scale projects, such as the former Porta Nuova railway yard in Milan, whose redevelopment obtained the world's first LEED® and WELL® for Community certifications for an urban district, and the redevelopment of the former Porta Romana railway yard and the Valtellina lot in the former Farini yard. In particular, the certifications awarded to Porta Nuova by the US Green Building Council and the International WELL® Building Institute (IWBI), recognised for the first time the social, environmental and economic sustainability of an entire urban area: the redevelopment of an ecosystem previously compromised by the presence of a disused railway yard, the urban reconnection of historic neighbourhoods divided by more than a century, and the activation of public spaces with the creation of a neighbourhood community, also through an innovative public-private partnership.

The acquisition of Guido Reni - the closing of which is expected by December 2024 - will be carried out by COIMA ESG City Impact Fund (CECIF), the first Italian closed-end investment fund with measurable ESG impact objectives that invests in sustainable regeneration of the territory at a national level, meeting the criteria defined by Article 8 of European Regulation 2019/2088.

The fund is participated by leading national institutional investors, including Fondazione ENPAM, Cassa Forense, Cassa Dottori Commercialisti, Inarcassa, BCC Credito Cooperativo, Fondazione CARIPARO, Compagnia di San Paolo and Intesa Sanpaolo, as well as COIMA SGR itself.

COIMA ESG City Impact Fund - which has been recognised for the second consecutive year among the Global Sector Leaders for its high ESG performance by GRESB (Global Real Estate Sustainability Benchmark), the most renowned global sustainability rating system for real estate companies and funds - is a benchmark for urban regeneration projects in the country.

The fund's strategy is to contribute to urban regeneration and to the environmental, social and digital transition of Italian cities by investing in building-level reuse and neighbourhood-scale urban regeneration, in line with the European environmental and social taxonomy. In particular, CECIF aims to combine the objective of financial investment with that of ESG impact structured according to measurable quantitative objectives, established ex ante project by project (Scope 1,2,3).

The objective of amplifying the scale of impact is also achieved by CECIF by increasing the capacity for investment and impact through partnerships with private and public operators, as in the case of the regeneration of the Porta Romana railway yard in Milan (which will host the Olympic Village of the next Milan-Cortina 2026 Winter Games, subsequently transformed into the largest student residence in Italy built in Social Housing) - with Prada Holding, Covivio, RFI, Fondazione Milano Cortina and with the participation of Intesa Sanpaolo in the financing of the urban regeneration operation - and also applied to the MilanoSesto project in Sesto San Giovanni (MI) where COIMA, together with its partner Redo, has become the owner of 90% of the area that represents the largest urban regeneration project in Italy and among the largest in Europe, with a total land area of over 1 million square metres of building surface.

COIMA, in collaboration with Ambrosetti and Human Foundation, has also launched the first impact study on an Italian fund analysing the economic, environmental and social impact results of the COIMA ESG City Impact Fund: the aim of the report, which will be presented by 2024, is to show the potential impact of an infrastructure fund with environmentally and socially sustainable investment objectives that, thanks to a funding target of EUR 2 billion, already activates urban regeneration projects for 2 million square metres.

After the awarding of the Guido Reni barracks, COIMA's total ongoing capital investments amount to more than 360 million euros, including the recent acquisition of three prestigious buildings located in the historic centre, with a total surface area of around 45,000 square metres (Palazzo Verospi, Galleria Sciarra and Palazzo Monte), with the aim of optimising their management through a plan of interventions aimed at reducing emissions and saving energy.

Finally, as part of the projects started and soon to be developed in the capital, COIMA will open its own office in Rome.

COIMA was assisted as legal advisors by Studio Gianni & Origoni and Studio A&O Sherman, and by Intesa Sanpaolo as financial advisor. The team of technical advisors was formed by Bioedil Progetti, GAD, Conio, Stantec, Yard Reaas, Leonardo Lavitola, AlmaLed.