Schroder Property Investment Management Italy (SPRIM) said it has bought the Santa Palomba logistics property development located in Pomezia, south of Rome, from Matrix, a fund managed by Valore Reale for some EUR 25 mln. The transaction reflects a net initial yield of 7.60%. The building, providing some 28,000 m[sup]2[/sup] of space, is fully let to several national and international logistics firms.
Schroder Property Investment Management Italy (SPRIM) said it has bought the Santa Palomba logistics property development located in Pomezia, south of Rome, from Matrix, a fund managed by Valore Reale for some EUR 25 mln. The transaction reflects a net initial yield of 7.60%. The building, providing some 28,000 m2 of space, is fully let to several national and international logistics firms.
The asset is earmarked for Schoder Euro Logistics Fund no. 1, which was launched in 2004 after raising equity of EUR 500 mln. The fund, which is dedicated to institutional investors, has invested some EUR 900 mln to date into logistics property, of which some EUR 350 mln in Italy.
SPRIM, part of the Schroders group, owns a commercial portfolio of about EUR 750 mln in Italy.
