The Mars last-mile investment fund managed by Italian asset manager Kryalos has announced the acquisition of a 47,500 m2 logistics facility near Milan from Axa IM Alts for an undisclosed amount.
Located in Gorgonzola, near Milan, the asset is a stand-alone logistics facility leased to a mix of international tenants.
The acquisition represents the first acquisition for the Mars fund, which is invested by Blackstone and managed by Kryalos.
'The acquisition of this property in the prime logistics market of Milan allows us to grow further in Northern Italy and reconfirms our desire to continue investing in last-mile logistics,' said Paolo Bottelli, CEO of Kryalos Sgr.
Following the purchase, Kryalos' portfolio of logistics properties includes a total of 225 assets representing 4.5 million m2 and a value of over €3.5 bn.
Advisor Dils brokered the deal.
