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.
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 REM, 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 REM 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