Italian asset manager Kryalos Sgr has assumed management of a real estate fund dedicated to last-mile logistics investments following a broader share acquisition by Blackstone-affiliated funds.
The Mercury fund owns a 47,000 m2 property in Liscate (Milan) leased to an international third-party logistics (3PL) tenant.
Additionally, the fund has acquired two more last-mile logistics assets: a 42,000 m2 facility in Cortemaggiore (Piacenza) leased to an Italian 3PL operator, and a 24,000 m2 property in Pieve Emanuele (Milan) with an attached photovoltaic system, leased to a major Italian courier.
The fund has also acquired the company managing the Pieve Emanuele photovoltaic system's licenses.
With these acquisitions, the fund now owns three properties totaling over 110,000 m2 in the greater Milan area, all with convenient motorway access.
Gianluca Vairani, senior managing director Transaction Management and head of ESG of Kryalos SGR, commented: ‘With the new Mercury fund we have the opportunity to strengthen our presence in the last mile logistics sector, which plays a crucial role in the current supply chain and distribution landscape. The properties acquired are leased to primary operators and present interesting profitability and low risk as well as being perfectly positioned to optimize delivery times.’
