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The valueothersoverlook.

We do not run ordinary real estate deals. We create projects that turn buildings into value, through quality, vision and attention to every detail.

Firenze vista dalle colline, con il Duomo e Palazzo Vecchio
Il patrimonio L'Italia è già costruita. Il valore sta nel riportarla al presente.
Manarola, Liguria: il borgo sulla scogliera
Il metodo Capitale paziente, coordinamento accurato, un occhio per il valore che altri non vedono.
Milano è il nostro punto di osservazione. Sede GRM — Piazza Santo Stefano, a due passi dal Duomo
Portafoglio

Operationsunder way

What you see below is what we are working on right now: open sites and live projects. Hover an asset to open its story.

Tutte le operazioni
Milano dalle terrazze del Duomo
Chi siamo

A privatereal estateholding

GRM is a private real estate holding based in Milan. We acquire prime property — historic palazzi, residences and addresses of standing — refurbish it and bring it back to the value it can express.

We invest our own capital alongside a small circle of partners. We are not an agency and we do not broker: on every operation we are the owner, from purchase through to sale.

We work only at the top end of the market, and on few operations at a time. It is the only way to attend to what makes the difference at this level: the materials, the finishes, the proportions, and the time it takes to get them right.

  • Historic and prime buildings01
  • Refurbishment and change of use02
  • Prime residential development03
  • Land and assets to reposition04
Parlaci di un'operazione
Cosa facciamo

What we do,areaby area

Six areas, one direction. A real estate operation does not break into separate contracts: from the analysis that precedes the purchase to the exit, every step stays under one roof and answers to the same people.

01

Analysis & origination

We select before we buy. Feasibility studies, planning checks, market analysis and a financial model: if the numbers do not hold, the deal does not start. A network of agencies and professionals reaching from Venice to Milan and Rome brings us properties ahead of the market: reserved opportunities that are often never listed.

  • Technical and planning due diligence
  • Market and comparables analysis
  • Financial modelling
02

Investment & structuring

We invest our own capital alongside our partners. We build the structure of the deal — vehicle, equity, debt, governance — so that it holds in difficult years too.

  • Equity and own capital
  • Debt structuring
  • Vehicle governance
03

Development & refurbishment

We take the building from design to delivery. Design, permits, procurement and site work stay under one direction, with cost and schedule control in our hands.

  • Design and permitting
  • Procurement and works supervision
  • Cost and schedule control
04

Value creation

Value is not found: it is built. Use class, architectural quality, energy performance and certification are the levers that move a building into another category.

  • Repositioning and use class
  • Energy performance
  • Certification and build quality
05

Operation management

Every operation has a direct owner, from acquisition to exit. We coordinate professionals and contractors, and account to our partners with regular reporting.

  • Project and cost management
  • Coordination of professionals
  • Partner reporting
06

Asset & exit

We manage the asset while it performs and exit when the market rewards it. Around the asset remain the services that protect its value over time.

  • Income asset management
  • Marketing and disposal
  • Trademark and patent protection
Principi

The principlesbehind everydecision

These are the criteria by which we choose buildings, structure operations and measure the outcome. They apply equally to a historic palazzo and to a development site.

01

Vision

We look at a building for what it can become. Value is built in the distance between what stands today and the project.

02

Selectivity

We study a great deal and invest in little. We commit where the project holds on numbers and quality, not on market expectations.

03

Discipline

The purchase price is a decision taken on the numbers. Every operation has a budget and a schedule, and we keep to them.

04

Long horizon

Horizons measured in years, not quarters. Patient capital can choose the right moment to enter and to exit.

05

Build quality

Materials, systems and energy performance are not a line to squeeze: they are what keeps a building desirable twenty years from now.

06

Partnership

Our capital sits beside our partners’. The outcomes are the same, and that keeps interests aligned throughout.

Team

The people

Six professionals across real estate, structured finance and advisory. Every deal has a direct owner, from origination to exit.

Alessio Ruffini

Alessio Ruffini

Founding Partner

Twenty years advising major international luxury and consumer groups on the decisions that shape their growth. Two decades at Accenture, closed at the head of Accenture Song; today Partner at Deloitte Digital, responsible for commerce in Switzerland.

alessio.r@grm.estate
Matteo Lapo Maria Guatteri

Matteo Lapo Maria Guatteri

Founding Partner

A decade of entrepreneurship in business services and facility management. Founder of Saphes S.r.l., an internationally active operation, he holds a portfolio of assets and corporate entities across Italy and Switzerland, adding to the services business the management of fitness centres and the development of units dedicated to luxury mobility and high-end automotive rental.

matteo.g@grm.estate
Giacomo Carozza

Giacomo Carozza

Founding Partner

Ten years of strategy consulting for industrial and international groups, on the decisions through which an offering finds its market. Director at Deloitte Digital, responsible for digital solutions across industry and retail, and mentor at Bocconi.

giacomo.c@grm.estate
Giulio Bricca

Giulio Bricca

Founding Partner

Strategy consulting at Deloitte Digital and Arthur D. Little for Italian and international clients, alongside an entrepreneurial path that counts the founding of two early stage companies. Co-founder of batoo and MBA candidate at London Business School.

giulio.b@grm.estate
Andrea Marco Bergomi

Andrea Marco Bergomi

C.E.O.

Almost a decade in insurance, across agency and management roles for national players (Alleanza, UnipolSai, AXA, Amissima), before investing in leadership and business development. Today the owner of 5 fitness centres across Italy and Switzerland, and head of Human Resources and Client Management at Saphes Srl, active nationwide.

andrea.b@grm.estate
Giorgio Marinelli

Giorgio Marinelli

C.O.O.

Mathematical Engineering at Politecnico di Milano, on a path directed at applying quantitative models to business decisions. Founder of Viventa AI, an artificial intelligence company for process automation, carried from technical development through to its first clients.

giorgio.m@grm.estate
Partners

Who wework with

Operators who know their own territory better than anyone. This is where the operations that never reach the market come from.

Partnership

GRMraceswith ASR

GRM is a sponsor of ASR, a racing team competing in the Lamborghini Super Trofeo. A choice of identity before visibility.

La vettura ASR nel Lamborghini Super Trofeo
GRM×ASR

GRM is a sponsor of ASR in the Lamborghini Super Trofeo.

This is not a cosmetic sponsorship. A race car and a real estate deal are more alike than they seem: what counts is preparation, a margin of error reduced to zero, and the ability to read the next corner early.

ASR carries the GRM name on one of the most recognisable cars in Italian engineering, in front of an audience that shares the same codes as our counterparties: precision, craftsmanship, measured performance.

01

Italian engineering

Same country, same care for detail: the GRM name beside a symbol of Italian industrial excellence.

02

Discipline and preparation

On track as in a deal, the result is built beforehand: data, testing, calculated margins.

03

An aligned audience

Paddock and real estate investment share the same people and the same way of weighing risk.

Contatti

Piazza SantoStefano,Milan.

We welcome quiet conversations with owners, operators and long-term investors.

Per proposte di acquisizione, co-sviluppo o cessione di immobili e aree, parliamone direttamente.

SedePiazza Santo Stefano 6
20122 Milano, Italia
C.F. / P. IVA14703540964