Investment Approach and Process

The SGR intends to launch both specialized (i.e. characterized by assets with a prevalent use) and balanced (i.e. comprised of mixed use assets with larger risk diversification) real estate funds.

The funds will primarily target direct and indirect acquisitions in sectors such as offices, retail, logistics, parking lots and hotels, among others.

In order to select the best investment opportunities Sator’s approach will be flexible in terms of sector, location, dimension and required asset management strategy. Rental income-based investments will be evaluated carefully, in order to guarantee stable cash-flows. These investments will focus on particularly attractive markets, sectors with strong growth potential, tenants with good credit records and assets with the potential to enhance the rental income through an “active asset management” approach. Value added investments will aim at enhancing the asset value through a set of different strategies including re-zoning, light restructuring, parceling of both portfolios and individual real estate units and trading.

Investments will mainly target key Italian cities as well as landmark areas for each specific sector.
Prior to making any investment the team will perform an in-depth due diligence supported by third-party legal, zoning and real estate consultants. This will aim at anticipating, and thus mitigating, all the risks associated with each transaction.     

Team

The Real Estate team is based in Rome and also has operations in Milan. The team is led by Paolo Rella, who has many years experience in identifying, structuring, developing and managing real estate assets and large portfolios, predominantly owned by big institutions such as banking groups and pension funds.