Coima, growth plan and team strengthening with Resta and Rivera

A business plan that envisages growth in the order of 20% of the real estate assets under management, new entrants in key roles, and a focus on tourism. These are the key points of the strategy presented yesterday by Coima between now and 2026. The company aims to reach assets under management of EUR 12.2 billion by 2026 (+20% on 2024). From 2015 to 2023, the value of assets under management increased from EUR 4 billion to over EUR 10 billion. Over the next three years, revenues are expected to rise by about 50% to EUR 86 million (+150% between 2015 and 2023), while Ebitda is expected to grow by 40% to EUR 30.2 million. Investments of five billion to 2026 are also confirmed.

The company set up and led by Manfredi Catella will continue to focus on urban regeneration, as it has done over the years, among other projects, with the various phases carried out for Porta Nuova and more recently for the former Scalo di Porta Romana, in Milan, with the idea of expanding the platform into the living, logistics, if linked to last-mile urban distribution, and finally tourism sectors, an asset class that has been particularly lively in recent semesters.

New appointments have also been announced: Ferruccio Resta, formerly rector of the Milan Polytechnic, joins the board of directors of Coima Rem - the group company dedicated to development and property management activities - as an independent director, with a mandate to work on projects to integrate artificial intelligence in the operational management of buildings and the implementation of advanced technologies in neighbourhood management, while Alessandro Rivera, formerly general manager of the Treasury Ministry, becomes chairman of MilanoSesto. Jesse Freitag-Akselrod, Green Street's first European head of advisory, joins Coima Sgr in the role of chief performance officer. In his growth plan, Catella says he is also evaluating selective M&A options. Especially in tourism, a sector that requires experience and precise knowledge. "It would be interesting to design a strategy to create an Italian hospitality group, as there has been in the past. We for our part are participating in the tender for the Bauer hotel in Venice, but the outcome depends on the price. In the sector more generally we aim to enter into partnerships and not just as buyers of individual assets'. The Bauer, as written exclusively by Il Sole 24 Ore, is the subject of a tender defined by the owner King Street together with the advisor Eastdil. "The one on tourism is a project that we have in the pipeline and that we cannot carry out alone, but we need to work with other partners of excellence," says Catella. "In Italy, the focus on tourism should be a central and strategic programme for the country, just think of the numerous historical and iconic assets to be reconverted and the many prestigious locations in our territory. Looking at the country's interest from a geographic perspective, Catella emphasises that the starting point is always the type of asset: "In Milan we look at offices, while student halls of residence lend themselves to being evaluated in all university cities and logistics throughout the country.

The growth strategy will also be shaped by Resta's role. "We are living through a profound transformation in which the speed of adaptation and the spread of new technologies are emerging," says Resta, "such as the internet of things and artificial intelligence. We have to work to be more resilient'.

Meanwhile, the MilanoSesto project is proceeding, but still in a study and analysis phase. Coima Sgr and Redo Sgr entered the MilanoSesto project in November through the acquisition of 100% of MilanoSesto Spa from Hines, which retained the development of the Union Zero lot. "This is a project that has been ongoing for 20 years and whose results have not always lived up to initial expectations, so this is both challenging and attractive," Rivera said.