An alternative real estate investment fund managed by Italian asset manager Kryalos SGC has completed a sale-and-leaseback deal for a logistics property near Bergamo, Italy.
The property in Fara Olivana is leased long-term to Italian B2B distributor of cleaning products Magris, which originally developed the site in 2020.
With over 20,000 m2 of leasable area, the Grade A asset has obtained BREEAM certification.
Davide Magris, board member of Magris commented: ‘The transaction has taken advantage of a favourable market to mobilise resources and increase our investments in the business’ core activity - in acquisitions, innovation and the commercial development of new channels.’
The property is located along the A35 motorway connecting Brescia and Milan, considered an attractive hub in Italy for logistics buildings and parks, with numerous retail, supermarket and e-commerce players.
Italian real estate consultant Dils, which brokered the deal, said that investments in the logistics sector in Q1 recorded the highest value for the first quarter of any year, at €671 mln.
This amount was equal to 20% of the total real estate investment volumes in the quarter and more than double that of Q1 2021.
