Private asset management company Kryalos has completed the acquisition of a light industrial property in Rome, through its Mars fund.
The firm said it had also inked a deal for a last mile logistics scheme under construction on the outskirts of Italy's capital city. Both assets were sold by Idea, a company specialising in logistics and light industrial developments belonging to the Idea Group.
Located in the southern area of Rome near Santa Palomba, the acquired light industrial property has a surface area of approximately 27,500 m2 and is well connected to the city via Via Ardeatina, one of the main local arteries.
The property is currently leased to an important multinational operating in the robotics and automation sector.
This is the second investment operation carried out by Mars, an alternative real estate investment fund dedicated to last-mile logistics, subscribed by funds attributable to Blackstone and managed by Kryalos.
The second asset is an under-construction property covering 11,400 m2, located in the Guidonia Montecelio area, on the outskirts of Rome and a few kilometers away from its ring road, the Grande Raccordo Anulare.
Developed according to high standards of sustainability and energy efficiency, it will be completed at the beginning of 2025.
The investments expand Kryalos' portfolio of logistics properties, which comprises 236 assets covering around 4.9 million m2, and an AUM of over €3.8 bn.
Gianluca Vairani, senior managing director transaction management & head of ESG of Kryalos said: 'These operations allow us to grow further in central Italy, an area on which we want to focus many of our next investments, and, above all, confirm the great opportunities relating to logistics.'
