Coima SGR SpA took over as majority shareholder and manager of the Sapphire Fund, a €200 million portfolio comprising three historic commercial buildings in Rome after the company acquired shares in the fund previously held by Zurich and Morgan Stanley.
The three buildings are roughly 45,000 square meters in total and include the Palazzo Verospi and the Galleria Sciarra in the Via Del Corso area and the Palazzo Monte in the Campo de’ Fiori area, according to a May 6 news release from Coima. The first two buildings house the Presidency of the Council of Ministers’ offices and the Italian National Anti-Corruption Authority, while the latter houses the Italian prime minister’s office.
Coima aims to upgrade the buildings with environmental enhancements such as energy efficiency and carbon footprint improvements. The acquisition was made through Coima’s Core Fund I and Core Fund II and the deal was supported by the issuance of a green loan, a type of loan with financial terms linked to sustainability targets.
Gabriele Bonfiglioli, Coima’s Chief Investment Officer, said:
“Coima is honoured to take on the management of these important and historic buildings in the heart of Rome, with the aim of improving their sustainability performance and ensuring they remain fit for the future. Rome is a strategically important market for Coima and a city with great potential for urban redevelopment projects focusing on driving positive social and environmental impact.”
Law firms Molinari Agostinelli, Giliberti Triscornia Associati, and Gianni & Origoni supported the deal.