Rome and Milan, 30 June 2022
The sale of the former Federconsorzi headquarters in Rome, the historic building overlooking piazza Indipendenza along via Curtatone, Rome has closed, putting DeA Capital Real Estate SGR at the center of a major asset management deal through two of its managed funds, Altair and Omega. The buyer, Altair Fund, is a long-term core fund fully invested by Allianz Group companies, and the seller, Omega Fund, is a value- add fund for professional investors that, with this sale, completes a lengthy redevelopment and remarketing project involving the property. The building is a prestigious trophy asset subject to the preservation restrictions of the Superintendency for Architectural Assets. It was completely renovated by DeA Capital Real Estate SGR in line with ESG principles and is LEED Gold certified. The building spans some 22,000 square meters with nine floors above ground for office and commercial use and two underground floors containing a fitness center and garage. DeA Capital Real Estate SGR organized the work in lots to meet the time constraints of the individual tenants, which include the international advisory firm KPMG, which has leased spaces on flours two through eight, relocating its Rome offices to piazza Indipendenza, Gardant Group, with the first floor and a section of the ground floor, and Virgin Active, which will open its Virgin Active space in the last lot to be completed in 2022, consisting of a fitness centre complete with a pool and spa. The first tenant to enter the building was KPMG in December 2020, followed by Gardant Group in January 2022.
The deal closed with a price tag of roughly €175 million.
Emanuele Caniggia, CEO of DeA Capital Real Estate SGR announced:
The redevelopment of the historic Federconsorzi headquarters in piazza Indipendenza, Rome shows how asset management, when it is well planned and implemented, is not only an excellent opportunity for institutional investors, but can also regenerate and redevelop entire areas of the city. In 2013, this building was a symbol of unlawful occupation in the capital. Then, after the property was cleared out by the police, whom I would like to thank once again, DeA Capital Real Estate SGR meticulously renovated the building, along with another three detached buildings on via Montebello, via Goito and via Gaeta in the area near the former Federconsorzi headquarters. This reflects our Company’s ongoing commitment to redevelopment. It has, in the past seven years, invested over €1.2 billion in redeveloping its real estate assets (half of which in Rome), giving the city’s real economy a significant boost. The via Curtatone/piazza Indipendenza property is now a flagship building, offering an excellent roadmap for the creation of value and helping to make Rome one of the most attractive markets for domestic and international real estate players.”
DeA Capital Real Estate SGR S.p.A. is the Asset Management Company leader in Italy, specialized in real estate Alternative Investment Funds. It manages Euro 12 billion assets through 57 real estate funds, one SIIQ and one SICAF, with assets consisting of 770 properties, 70% of which are located in Rome and Milan. DeA Capital Real Estate SGR is part of the DeA Capital Group, a pan-European alternative asset management platform which is committed to the promotion, management and development of real estate, credit and private equity investment funds, as well as in multi- asset/multi-manager solutions for institutional investors. DeA Capital, a subsidiary of De Agostini S.p.A. and listed on the Euronext STAR Milan segment of the Euronext Milan of Borsa Italiana, is the leading independent Italian player in the Alternative Asset Management sector (for assets under management), with Combined Assets Under Management of more than EUR 26.2 billion. The Group Platform includes over 450 Investors, 90 Funds, with companies in France, Iberia Peninsula, Poland and Germany through Group subsidiaries and investees of local senior management teams. The objective is to create a pan-European investment platform with the aim of investing in all sectors and with a diversified investment risk profile, from Opportunistic to Value-Add to Core+, on behalf of the Group and also for Institutional Investors. www.deacapitalre.com