EQT Real Estate is investing €230m to acquire a portfolio of fully-let 265,000sqm logistics assets in Italy.
The fund manager said its EQT Exeter Logistics Value Fund IV fund has agreed to buy the 12 assets located in Milan and Verona through a fund managed by Kryalos SGR.
John Toukatly, partner, CIO, European logistics at EQT Real Estate, said: “We are thrilled to incorporate this high-quality logistics portfolio into our fund. Strategically located in supply-constrained markets, these assets appeal to a broad array of prominent big-box occupiers, and aligns well with EQT Real Estate’s focus on acquiring highly reversionary, modern logistics assets in underserved European markets.
“By leveraging EQT Real Estate’s operational and asset management expertise, we aim to unlock additional value from these properties in our effort to exceed our investors’ expectations.”
Paolo Bottelli, founder and CEO at Kryalos SGR, said: “This transaction underscores the strength and liquidity of the Italian logistics real estate market, which continues to attract investors looking to establish or grow their presence in this rapidly expanding sector.
“We are pleased to work with EQT to support the execution of their investment strategy in Italy. Kryalos will manage the assets involved with the utmost professionalism, seeking to ensure their long-term value creation and leveraging our deep expertise in the logistics market.”
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