Strategy and business model

VISION, MISSION AND STRATEGY

The strategy of COIMA RES aims to create value in the medium to long term through the active management of the real estate portfolio. Sustainability is one of the cornerstones of our strategy, and this allows us to best position our offering with respect to the tenants’ demand, contributing in reducing the risk profile and minimising the long term environmental impact of our buildings.

Caio Massimo Capuano

Chairman, COIMA RES

COIMA RES’ objective is to create value for its shareholders in the medium to long term, within the context of the parameters established by the Real Estate Investment Trust (REIT) framework.

This objective is pursued through the execution of a clear strategy that envisages the active management of a quality real estate portfolio capable of satisfying the present and future demand from tenants.

In particular, COIMA RES has chosen to focus its portfolio mainly on office properties located in Milan. This choice allows COIMA RES to make the most of the skills of COIMA SGR and COIMA Srl, which have both built a remarkable track record in the development and management of office properties in Milan in recent years. This choice also exposes COIMA RES to the largest, most liquid and most transparent segment in the Italian real estate landscape, features that have remained intact even in the difficult context of the COVID-19 pandemic experienced in 2020.

In an environment in which corporates are proving to be increasingly demanding in their choices of office spaces, also aligning them with their sustainability policies, the investment strategy of COIMA RES favours office properties that are well integrated with the urban fabric, able to reach, immediately or through refurbishment projects, high environmental performances that can put people at the centre, fostering collaboration and creativity and acting as real business productivity tools.

vision

To become the gateway REIT for investors seeking exposure to the Italian real estate market in the listed form

mission

To develop a REIT that creates shareholder value leveraging on international best practices

strategy

Create value through the process of allocating the company’s capital and through the active management of its real estate portfolio

Offer customers (tenants) space that is aligned with their current and future needs

Offer investors a balanced risk-return profile

The company focuses primarily on Core and Core + assets and typically invests in Value-add assets in JV with third parties

Business model

The business model supporting COIMA RES’ strategy envisages:

• A rigorous capital allocation process when executing investments

• The active management of the real estate portfolio, aimed at optimising cash flows and possibly repositioning and upgrading some of the properties in the portfolio (in order to improve their environmental performance, their integration with the urban fabric and, in general, their attractiveness on the market)

• The rotation of the portfolio assets over time, aimed at crystallising performance and free up capital for new investments

A cornerstone of the business model of COIMA RES is the support received by COIMA SGR and COIMA Srl for the acquisition and disposal of properties, the management of the tenant base, the operational management of the assets and the management of the assets’ refurbishment processes. In this specific market context, characterised by an uncertain macroeconomic outlook, we opted to concentrate our portfolio in Milan and on office properties.

Buy

Acquisition of commercial real estate assets with medium to long term value creation potential

Optimise

Active management of the real estate portfolio aimed at optimising cash flow streams and improving the quality of the assets also through selected refurbishment plans, in order to improve their environmental performance, their integration with the urban fabric and in general their attractiveness on the market

Manage

Retain in the portfolio the most strategic / highest performing assets for the medium to long term

Sell

Disposal of mature, non-core and non-strategic assets to crystallise performance and to free up capital for new acquisitions

Principles

INDEPENDENCE

We position ourselves as independent and fiduciary partner for tenants and investors, both domestic and international

ENTREPRENEURSHIP

We constantly seek new challenges by expanding our knowledge and experience in a creative yet rigorous way

EXCELLENCE

We seek the highest quality in everything we do with passion and commitment

INTEGRITY

Honesty and transparency are essential values for us

SUSTAINABILITY

We are committed to making our investments responsible for society and the environment