Garbe Industrial Real Estate has partnered with global real estate investor and manager SFO Capital Partners for a third time to develop and manage a 22,000sqm logistics facility in Italy.
The partnership, which also includes a pan-European fund managed by Edmond de Rothschild REIM, will develop the MilEast Logistics Park on a brownfield site in the Milan metropolitan area acquired in October 2024. Garber Industrial will act as developer and property manager.
The MilEast Logistics Park in Covo is Garbe’s third joint project with SFO Capital Partners and their second in Italy.
The pair’s second project, also in Lombardy, within the Milan metropolitan area, was an 83,000sqm logistics property on a brownfield site near Silvano Pietra, completed in December 2023. The first joint venture, established in 2022, developed a 10,600sqm property in Venlo, a logistics hub in the Netherlands.
Peter Bartholomäus, the head of fund management and capital markets and member of the executive board at Garbe Industrial, said: ”The proven collaboration with SFO Capital Partners enables us to build properties that are fit for the future, to set new standards within the logistics sector, and to deliver value both for the occupants and for investors.”
Mohamad Abouchalbak, CEO of SFO Capital Partners, said: “This project marks SFO Capital Partners’ sixth investment in the logistics sector, reinforcing our strong conviction in the resilience and growth potential of the European logistics market. It further strengthens our presence in key logistics hubs, complementing our growing portfolio in Europe.”
Pierre Jacquot, CEO of Edmond de Rothschild REIM, said: “This transaction marks the first investment in Italy for our Smart Estate 2 strategy. It further strengthens the strategy’s allocation to a conviction driven sector, where we continue to identify some interesting risk-adjusted fundamentals.
“We are very happy to expand our partnership with SFO Capital Partners alongside Garbe Industrial Real Estate and are looking forward to growing the joint venture in Italy and other countries in 2025.”
This story has been updated to clarify that Edmond de Rothschild REIM is also part of the joint venture developing the logistics facility in Italy, alongside Garbe Industrial Real Estate and SFO Capital Partners.
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