London

CBRE Investment Management Acquires Residential Building in Rome’s Talenti District

June 27, 2022

Rome Talenti

Associated Contact

Helen Stott

Corporate Communications Director

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CBRE Investment Management (“CBRE IM”), on behalf of a fund sponsored by the firm, announces the acquisition of a residential building in Rome’s Talenti district. The seller is a joint venture between Incus Capital and IGS S.p.A.

The asset will undergo significant refurbishment with work being undertaken by the seller’s construction company MED Scpa. When complete, it will consist of 225 rental residential units spread over seven floors, as well as 225 parking spaces. The asset will comprise two buildings, arranged in an L-shape and a central square with green areas. Apartments will be equipped with balconies and a number of amenities will be provided for residents including a reception, coworking area, laundry room, gym and recreational space.

Aligning with CBRE IM’s sustainability ambitions, the redeveloped asset is targeting Italy’s highest energy class and LEED Gold certification for Building Design and Construction.

The asset is located in the Talenti district, a popular residential area in the northeast of Rome. The neighborhood is characterised by its abundance of green space, and its excellent amenities, including schools and kindergartens, sporting facilities, shopping centers and various public transport links. The Talenti district is 8km from the city centre and provides easy access to three of the city’s primary roads - GRA, Via Salaria and Via Nomentana.

Most of the homes in the Talenti district are relatively new, having been developed over the last 30 years, and are equipped with private gardens, terraces and swimming pools; as a result, this area is popular with Rome’s upper-middle classes.

Alberico Radice Fossati, Head of Transactions Italy at CBRE Investment Management, said: “The Italian multifamily market is still in its relative infancy, compared to some of the other major European markets, and is gathering strong interest from international investors, who have driven the recent growth in investment volumes. We believe that this asset will deliver strong rental yields due to its excellent location, strong ESG credentials, Grade A amenities and where there is a minimal supply of high-quality apartments.”

About CBRE Investment Management

CBRE Investment Management is a leading global real assets investment management firm with $146.8 billion in assets under management* as of March 31, 2022, operating in more than 30 offices and 20 countries around the world. Through its investor-operator culture, the firm seeks to deliver sustainable investment solutions across real assets categories, geographies, risk profiles and execution formats so that its clients, people and communities thrive.

CBRE Investment Management is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBRE), the world’s largest commercial real estate services and investment firm (based on 2021 revenue). CBRE has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE Investment Management harnesses CBRE’s data and market insights, investment sourcing and other resources for the benefit of its clients. For more information, please visit www.cbreim.com.

*Assets under management (AUM) refers to the fair market value of real assets-related investments with respect to which CBRE Investment Management provides, on a global basis, oversight, investment management services and other advice and which generally consist of investments in real assets; equity in funds and joint ventures; securities portfolios; operating companies and real assets-related loans. This AUM is intended principally to reflect the extent of CBRE Investment Management’s presence in the global real assets market, and its calculation of AUM may differ from the calculations of other asset managers and from its calculation of regulatory assets under management for purposes of certain regulatory filings.