EQT Real Estate acquires 12-building logistics assemblage located in key Northern Italian submarkets
- Transaction comprises an attractive collection of 12 high-quality, fully let logistics assets totaling 265,000 square meters
- Portfolio features a weighted average lease term of 4.3 years with significant rental growth potential and value creation opportunities
- With the close of this transaction, EQT Real Estate will meaningfully increase its exposure to one of the most attractive occupational markets in Europe, owning and operating high-quality warehouses fit for today's modern logistics users
STOCKHOLM, Jan. 27, 2025 /PRNewswire/ -- EQT is pleased to announce that the EQT Exeter Logistics Value Fund IV ("EQT Real Estate") has entered into an agreement to acquire a best-in-class logistics assemblage strategically located in the key Northern Italian submarkets of Milan and Verona, for approximately EUR 230 million. The assets will be acquired via an Italian REIF structure managed by Kryalos SGR S.p.A.
The assets offer proximate access to core distribution locations via key motorways, including the A1, A4 and A22, reaching major population centers and more than 12 million inhabitants.
The properties hold an average building age of ten years and feature Grade A technical specifications, including eaves heights averaging 11 metres, as well as ample loading and maneuvering features. The assemblage also benefits from a strong, globally diversified tenant base and is well-suited to meet the growing needs of today's modern logistics users, both in Italy and around the globe.
The transaction strengthens EQT Real Estate's exposure to the growing Italian logistics market, which continues to experience strong demand among key European submarkets. The acquisition further consolidates EQT Real Estate's presence in the Greater Milan area, creating a significant opportunity to deploy its differentiated and hyper-local approach to value creation, and benefit from future rental growth potential.
John Toukatly, Partner, Chief Investment Officer, European Logistics at EQT Real Estate, said: "We are thrilled to incorporate this high-quality logistics portfolio into our fund. Strategically located in supply-constrained markets, these assets appeal to a broad array of prominent big box occupiers, and aligns well with EQT Real Estate's focus on acquiring highly reversionary, modern logistics assets in underserved European markets. By leveraging EQT Real Estate's operational and asset management expertise, we aim to unlock additional value from these properties in our effort to exceed our investors' expectations."
Paolo Bottelli, Founder and CEO at Kryalos SGR, said: "This transaction underscores the strength and liquidity of the Italian logistics real estate market, which continues to attract investors looking to establish or grow their presence in this rapidly expanding sector. We are pleased to work with EQT to support the execution of their investment strategy in Italy. Kryalos will manage the assets involved with the utmost professionalism, seeking to ensure their long-term value creation and leveraging our deep expertise in the logistics market."
Contact
EQT Press Office, [email protected]
Kryalos Press Office, Barabino & Partners, Claudio Cosetti, [email protected]
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The following files are available for download:
Press Release, EELVFIV, Italian Assemblage, 240127 |
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