Ardian, a world-leading private investment house, and Prelios SGR S.p.A. today announce the sale to Deka Immobilien, the specialist for real estate investments within the Deka Group and one of the largest globally active real estate fund companies in Germany, of an office building located in Via Colombo 80 in Rome, a dynamic area in the EUR district where the most important financial centre of the city and one of the largest in Italy is located.
Ardian and Prelios acquired the property in 2017 with the aim to reposition the building from a commercial and technical point of view. Starting from January 2019, an extensive renovation plan has been carried out making the property one of the highest quality office buildings in Rome and one of the few with a double green building certification: LEED and BREEAM.
The refurbishment has significantly increased the competitiveness and the appeal of the asset through a re-designed façade, a double height entrance hall, a gym and state-of-the art grade A office spaces.
With a 90% occupancy rate, the property is leased to a mix of corporate tenants with exceptional covenant. Ardian and Prelios have signed long-term leases with PwC and Prelios who both confirmed the location as their headquarters in Rome after the refurbishment.
Ardian Real Estate manages 1 billion euros of assets in Italy, including valuable historic properties located in some of the major cities including Rome, Milan and Florence.
Rodolfo Petrosino, Senior Managing Director for Ardian Real Estate’s operations in Southern Europe, said: ”Over the last three years, we’ve successfully partnered with Prelios SGR to renovate the building, making it a particularly attractive asset. The building is prominently located in the dynamic EUR district of Rome, an area with numerous office spaces but also with a residential and commercial function for the local community. Our value creation strategy continues to be focused on the best investment opportunities on the Italian market, in particular build-to-core quality office spaces, with the aim of repositioning and reselling them to long-term investors”.
“We are proud to have completed an important redevelopment and repositioning of the property in an operational context complicated by the current pandemic crisis" declares Patrick Del Bigio, CEO of Prelios SGR. "This redevelopment confirms that even in an economic scenario strongly impacted by the pandemic, the quality of the underlying asset and the professionalism of the manager allow for important results for investors. In this context, ESG issues, which are a strategic focus for Prelios SGR, and the environmental sustainability of the product, which has obtained the prestigious LEED and BREEAM certifications, are becoming increasingly relevant”.