Hines, Coima Rev Up Investments In Italy Despite Political Troubles
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Houston-based Hines and Coima’s Italian real estate partnership ended less than two years ago, but both firms are ploughing ahead in the country this year and raising capital for new deals.
Since its partnership with Hines fell apart, the Catella family invested more than $1B in Italian real estate through the family company, Coima. For its part, Hines invested at least $700M across seven Italian properties over the last year, the Wall Street Journal reports.
Though the country is in the midst of political uncertainty and has a troubled banking industry, a Green Street Advisors analyst said the flow of capital into Italy shows it is possible to have good investment opportunities within a poor macroeconomic system. When it comes to Italian investment opportunities, most of them are in Milan alongside the 25.8M SF Porta Nuova development. [WSJ]