Kryalos Sgr, three new last mile assets between Piacenza and Milan for over 110,000 square metres

Kryalos Sgr took over the management of a real estate fund dedicated to last mile logistics investments as part of a broader deal to acquire shares from funds related to Blackstone.

The fund, renamed "Mercury", owns a property of approximately 47,000 sqm located in Liscate (Milan) and leased to an international 3PL operator and, at the same time, acquired two last mile logistics assets located in Cortemaggiore, in the province of Piacenza and in Pieve Emanuele, in the province of Milan. The first asset, with an area of approximately 42,000 sqm, is fully leased to an Italian 3PL operator, while the second, with an attached photovoltaic plant, covers an area of 24,000 sqm and is leased to one of the leading couriers in Italy. In addition, the fund acquired the entire share capital of the company that owns and operates the licences for the photovoltaic plant in Pieve Emanuele. The value of the assets has not been disclosed, but industry analysts estimate a value that could be around EUR 80 million.

L’immobile di Liscate

As a result of these transactions, the fund holds assets of three properties with a total surface area of over 110,000 square metres, all located in the area known as 'greater Milano', optimally connected to the main motorway arteries and leased to tenants of primary standing.

"With the new Mercury fund," said Gianluca Vairani, senior managing director transaction management and head of Esg at Kryalos sgr, "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 acquired properties are leased to leading operators and present attractive profitability and low risk as well as being perfectly positioned to optimise delivery times. Another distinctive feature of one of the assets is the ownership of the adjoining photovoltaic plant.