Investcorp’s European asset portfolio reaches $1.2bn with 2nd deal in Italy

By Amirtha P S, Desk Reporter
  • Follow author on
Representational Image

Investcorp, Bahrain-based leading global alternative investment firm, has marked its second acquisition in Italy with the purchase of Via Paolo di Dono 44, an office located in Rome, for $140 million.

The property, acquired by Investcorp’s European Real Estate business, is 100 percent occupied under a long-term lease by the International Fund for Agricultural Development (IFAD). 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 square meters of gross lettable office space and 174 internal and external parking spaces. It is LEED Platinum Certified, the highest possible certification established by the US Green Building Council, and one of the very few buildings in Rome to receive the certification.

Investcorp first entered the Italian real estate market in October 2021 through the $81.42 million acquisition of the Milan office of Kering, the multinational corporation specializing 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 $1.21 billion in 80 properties across the UK, Germany, the Netherlands, Italy and Belgium.

 Neil Hasson
Neil Hasson
MD & Head
Investcorp European Real Estate

“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.”

Mr. 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 generate stable, long-term cash flow. We are excited to be adding this high-quality office property to our growing portfolio.”

Established over four decades ago, Investcorp has grown to become one of the leading alternative asset management companies in the region, investing across asset classes and geographies. The company went on an acquisition spree during the pandemic to capitalize on lower asset valuations and is bullish on the growth prospects for its portfolio. It has $40.4 billion in total assets under management as of December 31, 2021, including assets managed by third-party managers.

Related: Bloom Holding unveils all-inclusive community ‘Bloom Living’ in Abu Dhabi