150 million Jv between Patron Capital and Investire Sgr for residential in Rome

Patron Capital - a pan-European institutional investor specialising in real estate investments - and Investire Sgr Spa (part of the Banca Finnat Group) announce that they have established Rome Resi 1, a real estate investment fund (Fia) focused on the development of the residential market in Rome. The joint venture partners will focus on Esg-criteria driven projects and opportunities in Rome's most desirable neighbourhoods, ranging in size from 50 to 200 flats, for total investments of EUR 150 million.

The joint venture has already acquired its first property, which has planning permission for the construction of a 9,300 sqm complex with a gross development value of approximately EUR 70 million. Completion is expected by the end of 2026 and the development will comprise 110 flats, as well as 105 parking spaces. Residents will benefit from a range of amenities, including a reception area, lounge area, communal terrace, co-working space, gym and children's play area. This announcement follows the closing of subscriptions for Patron's seventh flagship fund, which raised over EUR 860 million, including more than EUR 200 million in discretionary co-investment capital for larger opportunities.

For Matteo Busà, partner at Patron Capital, 'this joint venture with Investire will allow us to take advantage of the attractive dynamic between supply and demand that sustains the residential market in Rome, working with a first-class partner. After securing our first development project, we are working to deploy further capital in line with our strategy and have already identified an interesting portfolio of opportunities'.

"This new fund with Patron," added Alessandro Polenta, managing director of Investire Sgr, "confirms Investire Sgr's commitment to developing the residential market through the regeneration of existing buildings and the creation of high-quality assets. The capital is proving to be an attractive residential market for many investors, particularly in the context of major events such as the Jubilee, and we believe that initiatives such as the launch of this new fund will allow us to consolidate and accelerate a responsible pipeline of urban regeneration and socio-environmental redevelopment that maximises all the development potential that Rome has to offer".