LeadCrest Capital Partners has added to its long-income portfolio in Italy by acquiring 11 warehouses from DIY retailer Leroy Merlin in a €125m sale-and-leaseback deal.

LeadCrest said the assets are being acquired through an Italian real estate fund managed by Polis Fondi and the transaction involves the acquisition of nine existing assets completed in June, and two built-to-suit assets expected to be delivered by year end.

Georges Asmar, portfolio manager at LeadCrest Capital Partners, said: “LeadCrest takes pride in fortifying its Italian portfolio now anchored by strong tenants such as Leroy Merlin, Italy’s leading DIY retailer.

“This partnership underscores the durability of our assets, our shared focus on long-term value creation, and our commitment to ESG principles in managing responsible investments. Italy and the home improvement sector remain central to LeadCrest’s strategy as we continue to expand our presence and pursue selective growth opportunities across Europe.”

Michele Stella, CEO at Polis Fondi, said: “We are proud to strengthen our relationship with LeadCrest and support a leading operator like Leroy Merlin through this landmark transaction.

“As Polis SGR continues to grow internationally, sale-leaseback investments represent a key pillar of our strategy to deliver stable returns and long-term alignment with institutional partners.”

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