Matteo ValdresciChief Executive Officer
Portrait of Matteo Valdresci

Chief Executive Officer · Europe

Matteo Valdresci

A property portfolio has a future only when its buildings remain useful to the people inside them.

My first project manager taught me to walk a proposed sequence of work before defending it in a meeting.

Open to
  • Board appointments
  • Speaking invitations
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I lead a property business by asking what each building can continue to do, what change will cost its occupants and where ownership itself should end.

I am the chief executive of Calverrano Estates, a family-controlled owner of commercial buildings in Italy and Spain. Our portfolio comprises thirty-eight properties and approximately 620,000 square metres, supported by 210 employees. Gross asset value at December 2025 was €1.8 billion, while rental income for that year was €112 million. Those are different measures: valuation describes an estimate of the assets, and rent describes income earned over a period. I became the company's first non-family CEO in June 2018.

My earlier work moved from construction coordination to project management, then to the responsibilities of a property owner. That crossing changed my definition of completion. A building can be handed over with its works finished and still be difficult to occupy, expensive to maintain or poorly suited to the tenant it is meant to serve. I now consider the operating life of a property alongside its development programme, including the disruption created when an occupied building needs substantial change.

The decisions I find most revealing are rarely the acquisition announcement. They concern whether to retain a structure, how to phase work around tenants, how much refinancing concentration to accept and when a property with a strong place in the family's history should leave the portfolio. I bring the construction team's practical constraints, the occupier's business needs and the owner's capital position into those discussions without assuming that a higher headline valuation resolves the differences between them.

A longer programme for occupied buildings

We phased €24 million of refurbishment across seven occupied properties over thirty months instead of the proposed eighteen. The approach added €1.8 million in preliminaries and coordination costs, making the price of reduced disruption explicit.

Reuse with an overrun kept in the account

A 24,000-square-metre office conversion retained about 70% of the existing structural area after specialist assessment. Final expenditure was €29.4 million against a €28 million approval, and completion was three months late. Twelve months later, 86% of lettable space was leased.

Less refinancing concentration at a higher coupon

We replaced €180 million of debt concentrated within nine months with three-, five- and seven-year maturities. The weighted coupon rose by 0.65 percentage points, an annualised €1.17 million interest increase before fees and other terms.

Current focus

I am working with our asset and operating teams on which existing buildings have a credible next use and which require a sale decision rather than another optimistic refurbishment story. Lease events, occupier needs and available capital need to be considered together before a project becomes difficult to reconsider.

Conversations I welcome

I would consider one external property or family-enterprise board role within twenty-one days a year, alongside selected speaking discussions. I remain Calverrano's CEO. I do not use a personal website to market individual assets, provide transaction advice or offer a route around the company's leasing and procurement processes.

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Commercial properties

Owned portfolio in Italy and Spain

620,000 m²

Portfolio area

Approximate area across the owned estate

€112m

Rental income

2025; distinct from year-end gross asset value

I began on construction sites, where a programme is made real by the sequence of work and the people who have to live with it. As a property owner, I have had to extend that view beyond completion. A tenant's business does not pause because our refurbishment plan is elegant, and a building's book value does not establish its usefulness. I try to connect the investment decision with occupation, maintenance and the next purpose the asset can credibly serve.

Matteo Valdresci

Chief Executive Officer

Areas of stewardship

Where accountability has been mine.

  1. IOccupied-building refurbishment
  2. IIAdaptive reuse and asset purpose
  3. IIIProperty capital and maturity planning
  4. IVProfessional management in family ownership

Selected work

Decisions, and what they changed.

I

Extending the programme to keep occupied buildings workable

In 2020, we prepared an initial €22.2 million refurbishment programme across seven occupied properties covering approximately 96,000 square metres.

The full account

II

Retaining a structure without hiding the conversion overrun

A 24,000-square-metre office property acquired for repositioning presented two broad options: extensive demolition and replacement, or a conversion retaining much of the existing structure.

The full account

III

Buying a less concentrated refinancing calendar

In 2022, our treasury review showed €180 million of borrowing falling due within a nine-month period.

The full account

In the boardroom

Stewardship beyond the executive role.

  • Calverrano Estates

    CEO and executive director

    Management lead for portfolio and financing proposals

    2018–present

The board record

In the words of others

Trusted by those who appoint.

Matteo gave the board a complete account of the former headquarters, including the reasons some owners wanted to retain it. He kept the recommendation clear without treating the building's history as an inconvenience to be dismissed.
Giulia NorvessiFictional separate chair, Calverrano Estates
He accepted the longer occupied programme only after we had priced the coordination it required. When the conversion later ran over budget, he asked for the learning to be recorded alongside the retained structure, not hidden behind it.
Luca VeldranoFictional operating director, Calverrano Estates

The journal

Perspective, set down with care.

Occupied refurbishment · 2026-09-09 · 5 min read

The tenant has a programme too

I examine why an occupied refurbishment must reconcile two operating calendars and why a longer construction sequence can be a deliberate ownership choice.

Read the essay

An invitation

Contact

I would consider one external property or family-enterprise board role within twenty-one days a year, alongside selected speaking discussions. I remain Calverrano's CEO. I do not use a personal website to market individual assets, provide transaction advice or offer a route around the company's leasing and procurement processes.

Open to
  • Board appointments
  • Speaking invitations
Write to Matteo

office@matteovaldresci.example