Investcorp reaches €1.1 billion of assets acquired in Europe with acquisition of second office building in Italy

21 Mar 2022

Investcorp, a leading global manager of alternative investment products, today announced that its European Real Estate business has completed the acquisition of Via Paolo di Dono 44 (the “Property”), an office located in Rome, for €128 million.

The Property is 100% occupied under a long-term lease by the International Fund for Agricultural Development (IFAD), a United Nations agency dedicated to eradicating poverty and hunger in rural areas of developing countries. The Property was built in 2008 to accommodate IFAD, which has been based in Rome since its formation in 1977.

The single-let, Class A office property comprises 32,200 sq. m. of gross lettable office space and 174 internal and external parking spaces. It is LEED Platinum Certified, the highest possible certification established by the U.S. Green Building Council, and one of very few buildings in Rome to receive the certification.

The acquisition of the Property marks Investcorp’s second acquisition in Italy. Investcorp first entered the Italian real estate market in October 2021 through the €74 million acquisition of the Milan office of Kering, the multinational corporation specialising in luxury goods and owner of Gucci, Yves Saint Laurent and Bottega Veneta. Since launching its European real estate business in 2017, Investcorp has invested approximately €1.1 billion in 80 properties across the UK, Germany, the Netherlands, Italy and Belgium.

Neil Hasson, Managing Director – Head of Investcorp European Real Estate, said: “This acquisition validates our strategy of acquiring office and industrial assets in Europe, and it aligns with our focus on high-quality, income-producing assets in attractive markets. This deal follows our acquisition of Kering’s Milan office at the end of last year and underlines our growing momentum in Europe.”

Pierre de La Rochefoucauld, Principal, Investcorp European Real Estate, added: “Italy is a market where we are beginning to see increasing investor interest given the attractive demand and supply characteristics. The IFAD office is a well-located, modern building with leading green credentials that generates stable, long-term cashflow. We are excited to be adding this high-quality office property to our growing portfolio.”