Italian asset management firm Kryalos has acquired a portfolio of five warehouses in Italy, a week after snapping up six new assets in the country's increasingly sought-after logistics corridors.
The latest deal, executed for the closed-ended 'Thunder' fund, comprises five properties with a total retail area of over 67,000 m2. Financial details were not disclosed.
The properties are all located in the province of Lodi, except for a building located in Settala, in the province of Milan. Three of the five assets are occupied by leading operators in the transport, cosmetics and third-party archiving sectors. Another two will be fully refurbished, with the completion of works planned for 2020.
The five buildings have a total of 112 loading bays and are all well connected to the main highways, Kryalos said.
The asset manager added that the deal took its logistics under management past the target of 2 million m2.
'This further acquisition is a confirmation of how strongly our group believes in the logistics sector,' said Paolo Bottelli, managing director of Kryalos. 'We are integrating even smaller buildings into our portfolio, as long as they are still optimally connected to the main transport routes with the main cities of Northern Italy.'
The deal follows the acquisition of six new assets for Kryalos' 'Hour' fund, which focuses on core-plus last mile properties in Italy. Four of the properties are in Rome, with one near Milan and another in the Veneto region.