CBA with Patron Capital in launching 150 mln fund, together with Investire SGR, for residential in Rome
Milan, July 18, 2024 - Patron Capital, a pan-European institutional investor, and Investire SGR S.p.A. have announced the launch of a real estate investment trust (FIA), called “Rome Resi 1,” which aims to invest 150 million euros in projects and opportunities for the development of the residential market in Rome.
The joint venture has already scored its first investment with the acquisition of a plot of land with an area of 9,300 square meters for the construction of a complex with a gross development value (GDV) of about 70 million euros. Completion is expected by the end of 2026, and the development will include 110 apartments as well as 105 parking spaces.
Patron Capital was assisted for tax aspects by CBA Studio Legale e Tributario, with a team composed of partner Francesco Assegnati and senior associate Andrea Motta, and by Molinari Agostinelli with a team composed of partner Alessandro de Botton and associates Francesco Manghisi and Giulia Mescolini, as well as partner Lorenzo Caruccio and senior associate Fausto Indelicato for administrative law profiles.
Bird & Bird assisted Investire SGR with a team led by counsel Giovanni Bevilacqua, for profiles related to the establishment of the fund, as well as the definition of agreements with investors preparatory to its establishment.