Blackstone's Italian asset management arm, Kryalos, has acquired a logistics property in Milan for alternative investment fund Thunder II.
The 45,000 m2 asset is located in Fizzonasco in the province of Milan and is 100% leased to a 3PL operator active at a national and European level.
Paolo Bottelli, CEO of Kryalos, said: 'Logistics represented a stand-out asset class last year, and will continue to attract institutional investors in light of the interesting returns it offers, the strong development trends and transformation of the distribution market.'
In the 12 months since its launch, the fund has acquired nine real estate complexes and two building plots for a total commercial area of over 260,000 m2.
Its 2020 deals included a newly built property in Marzano, Pavia; the Aura portfolio consisting of three logistic assets and two building plots in northern Italy; a property near the A7 motorway, about 25 km from the centre of Genoa; the Balboa portfolio comprising two assets in Milan and Rome; and a a property in Venaria, Turin.
With €8 bn in assets under management and a team of 80 professionals, Kryalos is an active player in the Italian real estate market, offering fund management, asset management, advisory, acquisition and development services.
