Real Estate SIIQ

COIMA RES is a Real Estate Investment Trust (REIT) founded in 2015 and listed on the Italian Stock Exchange since 2016. COIMA RES’ strategy is focussed on the development and active management of a high-quality real estate portfolio with a high sustainability content that is positioned to meet the current and future demand from tenants. At present, COIMA RES owns and manages a real estate portfolio mainly concentrated on the Milan office segment. COIMA RES aims to offer to its shareholders a balanced risk-return profile characterized by a stable and sustainable dividend and by the potential for appreciation of the real estate portfolio over time.

Share Performance

Insights

Board of Directors approves results as of December 31st, 2021

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Report 9M 2021

Sarca property disposal crystallises value; total disposals at an average premium of 10% on purchase price. Guidance has increased by 5% for 2021, EPRA net tangible asset growth of 4.1%; the interim dividend has been approved for 0.10 euros per share, in line with 2020. LTV decreasing to 29%, ample cash position of more than Euro 90 million.

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Sarca 235 disposal

The sale of Sarca 235, at a price of Euro 82.5 million, crystallizes the performance achieved with a 36% premium over the acquisition price and a levered IRR of 39%, contributing to confirm the significant value of the company and to generate cash for new investments.

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Report HY 2021

The COIMA RES first-half results confirmed the resilience of the portfolio and the solidity of the tenants. In the coming months we plan to start repositioning the value-add component of our portfolio with the aim of progressively generating incremental value by increasing the quality of the properties and capturing higher rental levels.

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COIMA published the second report on the future of offices

A survey performed between October and January 2021 with a pool of corporates having an office footprint in Italy, and in particular Milan.

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Portfolio of bank branches

Location: Italy - North and Centre


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Bank branches

Gioiaotto

Location: Viale Melchiorre Gioia 6/8, Milan...


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Office - Hotel

Key figures

2016
Quotation on Italian stock exchange
726M
Value of the real estate portfolio
85%
Office use portfolio
90%
Portfolio located in Milan
200K m2
Net rentable area