Mapfre and Swiss Life acquire historic Roman office complex

Insurance companies Mapfre and Swiss Life have made their inaugural acquisition in Rome, purchasing the prestigious Palazzo Volpi Galloppi and an adjoining property.

Palazzo Volpi Galloppi, Rome 

This 17th-century complex, located near the iconic Quattro Fontane, comprises 14,700 m2 of office space in the heart of Rome's business district, close to key political, cultural, and economic institutions.

Managed by Swiss Life Asset Managers France on behalf of their joint investment vehicle, this acquisition underscores Mapfre and Swiss Life's commitment to their Italian real estate strategy, focusing on high-value historical properties in the capital.

The complex, a prime example of Roman Baroque architecture with its unique suspended terrace gardens, boasts an exceptional location next to the Presidential Palace. It is currently leased to IVASS, Italy's insurance regulatory authority.

This move aligns with a long-term investment strategy designed to capitalise on Rome's promising market conditions, including low office vacancy rates in the city centre, increasing prime rents, and growing interest from international institutional investors.

Fabrice Lombardo, head of Real Estate Activities in France at Swiss Life Asset Managers, commented: “This landmark acquisition reflects our ambition to sustainably strengthen our presence in Southern Europe. Rome currently offers particularly attractive fundamentals, combining supply scarcity, strong tenant demand and exceptional heritage quality.”

Carlos Díaz Gridilla, general manager at Mapfre Inmuebles, added: “This building perfectly meets the type of asset we are looking for in Mapfre: a high-quality, well-located property with stable income streams.”