Italian asset manager Kryalos SGR has acquired a portfolio of three logistics platforms across Italy in a sale-and-leaseback transaction with logistics group DSV SpA, the Italian division of Danish group DSV.
The acquisition, which was signed on behalf of Kryalos' Ermes fund, involves 116,000 m2 of space across three assets in Limito di Pioltello, near Milan, Modena and in Aprilia, central Italy.
Financial details were not disclosed.
The transaction is the second acquisition to be carried out by Ermes following the purchase in April of a further two logistics assets in Milan.
'This new investment allows us to further consolidate our leadership position within an ever-growing asset class that is increasingly attractive to investors,' commented Kryalos' CEO Paolo Bottelli.
In total, Kyralos manages around 2 million m2 of logistics space across Italy.
Logicor advised Kryalos SGR on the deal and will manage the properties going forward.
Cushman & Wakefield acted for DSV on the sale.
'The sale of the DSV portfolio confirms the considerable interest in the logistics sector in Italy on behalf of investors. The large amount of liquidity available combined with more interesting yields compared to other European countries means there is broad investor interest,' added Carlo Vanini, Cushman & Wakefield’s head of capital markets in Italy.