A debt fund managed by GWM has provided €70m financing for the acquisition and development of a portfolio of logistic assets in Italy.

GWM’s Commercial Real Estate Debt Opportunities Fund (CREDO Fund) is providing the loan for the assets held by the Italian Logistics Fund, a vehicle managed by Savills Investment Management and backed by lead investor Angelo Gordon alongside local logistics partner Bell Real Estate.

Conduit Real Estate acted as debt advisor to the borrower.

Tracy DeBlieck, managing director at Angelo Gordon, said: “As highlighted by our ability to fully pre-let the first development asset in this portfolio prior to construction, demand for logistics space – particularly build-to-suit – in Italy remains strong, and we look forward to working in partnership with Bell Real Estate and Savills Investment Management SGR to continue unlocking value across these properties.”

Gennaro Giordano, managing partner at GWM said: “As part of our senior loan program, we were excited to work with Angelo Gordon, Bell Real Estate, and Savills Investment Management SGR and provide a tailored financing solution for this logistics portfolio in Italy.

“Logistics continue to attract international investors, and we look forward to providing creative solutions that support our clients’ investment activities across Europe.”

CREDO Fund is GWM’s dedicated real estate senior lending platform focusing on main European markets. The fund held a first close in August and will continue its capital raising toward an initial capital raise target of €500m.

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