Investment Management

COIMA, in a market environment in continuous evolution, invests in innovative projects with strategies differentiated by risk level, from core to value-added and development, and by use (i.e. offices, retail, residential, logistics and hospitality).

Over the next few years, the main factor in value creation will be product innovation, to anticipate emerging global changes in the demand for real estate and to respond to the needs of tenants. This opportunity will be even more important in Italy which is characterized by an obsolete real estate stock in need of upgrading and repositioning to meet the needs of changing demands.

Gabriele Bonfiglioli

Managing Director, Investment Management, COIMA

COIMA’s investment strategy is focused on identifying key market trends and seeking out opportunities, with a view to maximizing returns for investors and environmental and social value for the relevant community. In COIMA’s investment decisions, ESG issues (environmental, social and governance) constitute a fundamental component since they are one of the key factors driving the profitability of investments.

The strategy is focused on a range of different risk classes

  • CORE/CORE PLUS

    aimed at the acquisition of properties that are totally or prevalently leased to tenants, which offer high quality from an architectural, historical or environmental sustainability standpoint. In the context of investments in leased properties, COIMA considers both buildings already awarded with certifications in accordance with recognized environmental standards, and buildings which, thanks to a proactive asset management approach and targeted upgrades can attain certifications or improve their level of operational efficiency over time.

  • VALUE ADD

    aimed at the enhancement of existing buildings which do not yet offer a quality or efficiency level based on their facilities, or environmental performance, but feature a high potential for improvement and room for greater efficiency through renovations.

  • DEVELOPMENT

    aimed at the development of new buildings in accordance with the highest architectural, sustainability and technological innovation standards. The development approach includes the urban regeneration of neglected areas, with the development of districts within the city that may lead to an overall requalification of the urban fabric, enhancing the territory and bringing benefits to the community.

THE TWO-PHASE INVESTMENT PROCESS

  • DUE DILIGENCE

    In order to identify the risks related to environmental matters and actions aimed at improving the sustainability of the property, which can be realized through requalification interventions and careful management. The eligibilty of sustainability certifications such as LEED, BREEAM and WELL is also assessed.

  • INVESTMENT PROPOSAL

    approved by COIMA SGR’s Investments Committee, which also includes a member with expertise in the ESG. The Fund Manager illustrates the costs to be sustained to improve the sustainability profile of the property and expresses an overall opinion on the advisability of the investment.