Italian fund manager Kryalos Sgr has expanded its last-mile logistics portfolio in Italy with the acquisition of three portfolios representing a total of 140,000 m2.
The purchases were made on behalf of the group’s Jupiter fund, a closed-end vehicle invested by Blackstone.
The first portfolio consists of ten last-mile logistics assets with a total area of 67,000 m2 located near the city of Bergamo. The properties are entirely leased to a primary operator active in the logistics and shipping sector.
The second portfolio consists of eight last-mile logistics assets located between Northern and Central Italy, in particular in Veneto, Lombardy and Tuscany, for a total area of over 60,000 m2.
Finally, Kryalos bought a portfolio of four properties near the cities of Naples, Turin and Bologna, for a total area of 11,133 m2.
'Last-mile logistics continues to record a positive trend, encouraged by continuously growing elements such as e-commerce, technological innovation and new delivery methods, which consumers around the world are embracing. The demand for spaces strategically positioned near urban areas, is therefore high. Our Company immediately grasped the potential of this specific asset class and continues in this investment strategy to better diversify investments in logistics, creating ever greater value for our investors,' said Paolo Bottelli, Chief Executive Officer of Kryalos SGR.
