Palazzo Esedra

Overlooking Piazza della Repubblica in Rome, Palazzo Esedra is one of the city’s most distinctive real estate assets. Designed in 1904 by Gaetano Koch, the building extends to more than 30,000 sqm and has a mixed-use profile, predominantly office and retail. Its architectural prominence, construction quality and strategic location position it as a major asset within the Rome market.

In 2026, more than 100 UniCredit client families co-invested alongside Allianz and Finaval in the acquisition of Palazzo Esedra, a transaction managed by PIMCO Prime Real Estate. Our mandate, however, extends beyond the financial execution – we have been entrusted to unlock the building’s latent potential through a functional and commercial repositioning program that respects its historic identity and original architectural features. The current plan is to retain the building’s mixed-use character, with office, retail and hospitality components, while Galleria Esedra is expected to retain its commercial focus.

That trust reflects our Italian track record. In Milan, PIMCO Prime Real Estate transformed Corso Italia 23 from a fading 1960s headquarters into a modern three-building campus with wellbeing, sustainability and user experience at its core. In 2019, shortly after the redevelopment work started and five years before delivery, the proposition was compelling enough to fully lease the campus.

In Rome, standing on the city’s Piazza San Silvestro, Palazzo Marignoli provides an even more direct reference point. PIMCO Prime Real Estate’s restoration of this historic building preserved the asset’s original features while introducing modern office and retail functionality, and serves as a benchmark for the restoration of historic buildings in Rome’s city center.

At Palazzo Esedra, the next chapter is intended to follow the same principle: respect the heritage, understand the city, modernize with care and create a contemporary asset that remains fully integrated into Rome’s urban fabric. This will be a showcase for why institutional and private investors trust PIMCO Prime Real Estate in complex city-center projects: we combine local execution with an ability to see the future of historic buildings – and to deliver modern, high-quality and value-creating real estate without losing what made those buildings special in the first place.