Italian investment company , with backing from a sovereign wealth fund, has acquired a β¬140m office redevelopment project in Milan.
Coimaβs latest unlisted opportunity fund has taken a 64% stake in the project, while its listed subsidiary Coima RES will own the remaining 36%.
The project in Milanβs Porta Nuova area includes a βcore-plusβ 5,200sqm building and a βvalue-addβ 14,400sqm office tower.
The Coima Opportunity Fund II, a development fund , will co-invest with a mix of equity and debt alongside Coima RES, a real estate investment trust (REIT) that listed on Milan stock exchange this year.
Coima SGR, which was created following the sale of β Italian fund management subsidiary last year, said it was the fourth sovereign wealth fund the company had worked with.
Qatarβs sovereign wealth fund participated in the listing of Coima Res, Italyβs first new REIT (or SIIQ),
