Founded in 2015, REDI provides a wide range of telecommunications services to customers in Valencia, Alicante, Castellón, and Murcia. The company owns and operates an FTTH network in the region, reaching approximately 130,000 homes, and is undertaking an ambitious expansion plan to extend its network coverage to over 165,000 homes by the end of 2025. This rollout has been made possible by government subsidies totaling around €15 million, enabling the company to deploy the network in rural areas of Castellón and Alicante, most of which are greenfield areas without existing fiber infrastructure. REDI also offers mobile and television services through its FTTH network and 4G/5G solutions.

Last year, PATRIZIA acquired Wifi Sancti Petri and Airwifi as its first two investments to create the new Localcom platform. By the end of this year, Localcom will have the capacity to serve more than 215,000 homes through its fiber optic networks across eastern and southern Spain. PATRIZIA will continue to develop Localcom as a fiber optic and broadband company in the Spanish telecommunications sector.

Matteo Andreoletti, Head of Infrastructure for Europe and North America at PATRIZIA, commented: “With the completion of our acquisition of REDI, we are taking a very exciting step for Localcom, as it strategically expands our platform in eastern Spain. Integrating this business will not only double our fiber footprint in the country but also unlock operational synergies and accelerate platform growth. The local telecoms sector in Spain, valued at €1.5 billion, has strong regulatory and government support, but it is a highly fragmented market, making it attractive to mid-sized infrastructure investors with the capacity to generate long-term value.”

REDI has a well-established management team with over 50 years of combined experience in the Spanish telecommunications market. The company's co-founders will continue to lead the deployment and commercial expansion plans.

Eduardo de Roda, PATRIZIA's country manager for Iberia, added: “At PATRIZIA, we are committed to making an impact through our investments in real assets, whether in the real estate or infrastructure sectors. By improving broadband connectivity in the most remote and underserved areas of Spain, we are addressing a critical need that aligns with the Government's priorities and supports digital inclusion. This investment in vital digital infrastructure not only improves access for hard-to-reach communities but also strengthens the region's socioeconomic fabric, creating long-term value for millions of Spanish citizens and reinforcing our role as trusted partners in building a more connected future.”

Javier de Paz, CEO of Local Comunicaciones, also commented , “This new investment represents a key milestone in the growth of the Localcom platform, significantly reinforcing our presence as a leading player in the Spanish telecommunications market. By expanding our fiber and broadband network, we are reducing the digital divide in rural areas and laying the foundation for future innovation and connectivity. This aligns with our mission to empower individuals and small businesses in smaller communities with high-quality internet, mobile, and television services, while simultaneously driving the socioeconomic development of rural Spain.”

European infrastructure, together with RE-Infra, value-add, living and Advantage Investment Partners (an independent club investment platform), represents one of the five key growth pillars for PATRIZIA to achieve its ambition of managing €100 billion in assets under management (AUM) by 2030.