• Intesa Sanpaolo to contribute a real estate portfolio worth over €500 million to investment vehicles managed by COIMA SGR
  • The banking group will take shares in the investment vehicles
  • Potential for further partnerships in the real estate sector

Milan, 26th April 2024 Intesa Sanpaolo and COIMA have signed an agreement to evaluate the best opportunities to develop the banking group's properties in a changing real estate market environment.

The agreement, which reflects changing strategies in real estate in response to the increased emphasis on ESG objectives in the sector, revolves around the transfer to investment vehicles managed by COIMA SGR of a real estate portfolio of Intesa Sanpaolo with a total value of over €500 million.

The completion of the transaction is contingent on fulfilment of certain conditions precedent. At the time of the contribution, Intesa Sanpaolo will receive shares in the COIMA investment vehicles, which will be identified according to the type of real estate in the portfolio and the strategy for developing its value.

The assets subject to the transaction, which are all office buildings, are:

  • three prime properties, located in Rome at Via dei Crociferi 44 and in Milan at Via Clerici 4-6 / Piazza Ferrari 10 and at Via Verdi 9-11-13;
  • additional properties to be vacated or disposed of in the coming months, located in several cities, including Milan, Turin, Rome, Brescia, Bergamo, Bologna, Padua and Florence.

The transaction will result in a significant reduction of Intesa Sanpaolo's real estate assets.

The agreement will also see Intesa Sanpaolo and COIMA examine further areas of collaboration in the real estate sector that could generate business opportunities of common interest.

Today's announcement is part of Intesa Sanpaolo’s broader Smart Property Management strategy, as set out in the 2022-2025 Business Plan presented by CEO Carlo Messina. Related initiatives include a strong acceleration towards the approach to work and a significant modernisation of working environments in office spaces. Investment properties are to be fully monetised through disposals and active management via leasing or the creation of new businesses.


Intesa Sanpaolo

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Corporate & Investment Banking and Governance Areas