COIMA RES is a Real Estate Investment Trust (REIT) founded in 2015 and listed on the Italian Stock Exchange since 2016. COIMA RES’ strategy is focussed on the development and active management of a high-quality real estate portfolio with a high sustainability content that is positioned to meet the current and future demand from tenants. At present, COIMA RES owns and manages a real estate portfolio mainly concentrated on the Milan office segment. COIMA RES aims to offer to its shareholders a balanced risk-return profile characterized by a stable and sustainable dividend and by the potential for appreciation of the real estate portfolio over time.
The sale of Sarca 235, at a price of Euro 82.5 million, crystallizes the performance achieved with a 36% premium over the acquisition price and a levered IRR of 39%, contributing to confirm the significant value of the company and to generate cash for new investments.
The COIMA RES first-half results confirmed the resilience of the portfolio and the solidity of the tenants. In the coming months we plan to start repositioning the value-add component of our portfolio with the aim of progressively generating incremental value by increasing the quality of the properties and capturing higher rental levels.
The rent collection level recorded by COIMA RES for the first quarter confirms the solidity of the tenant base and the portfolio resilience. In the coming months the retrofitting activity on the value-add portion of the portfolio will commence in order to progressively generate incremental value by upgrading the quality of the assets and by capturing higher rental levels.
COIMA RES delivered a strong set of results for 2020 which reflect the quality of its portfolio of assets and tenants. 99% rent collection rate, gross rents growing by 19%, EPRA earnings growth of 25%, EPRA Net Tangible Asset growth of 1.0% and recommended dividend of Euro 0.30 per share, in line with last two years.
