Patron Capital has exchanged contracts to acquire a parcel of land for a residential development opportunity in Rome, representing its first investment in Italy’s capital. This follows the final close of Patron’s seventh flagship fund, which raised in excess of €860 million ($922 million), including more than €200 million ($215 million) of discretionary co-investment capital for larger opportunities.
The site has a building permit in place for the construction of a 9,300-square-meter (100,100-square-foot) complex, which will comprise 110 apartments as well as 105 parking units and has a GDV of €70 million ($75 million). The ESG-led urban regeneration project is located in Viale delle Provincie, in near proximity to two high-speed train stations and a metro station as well as Rome’s largest university, Sapienza, and the Umberto Primo hospital. Upon completion, residents will benefit from a range of amenities, including a concierge desk, lounge area, communal
