GLP acquires a Grade A 27,000 sq m logistics facility in Rome
GLP, a leading investor and developer of logistics warehouses and distribution parks, announced today that it has completed the off-market acquisition of a 27,000 sq m, Grade A logistics facility in Santa Palomba, near Rome, for approximately €15 million. This acquisition has been made by the closed-end real estate alternative investment fund (FIA) named “Augustus” managed by Kryalos SGR and fully subscribed by GLP.
The asset is a Grade A logistics building located in a key location within the prime Rome inner market and has been sold by Orchidea Srl, an Italian developer which built the asset for the current tenant, Carrefour.
Roberto Piterà, Country Director of GLP Italia, said: «This acquisition, made through a great team effort, increases our position in the Rome market. By acquiring the Santa Palomba asset, we have rebalanced our portfolio with an increase weighting to the Rome area, alongside our assets in Anagni and Colleferro.
“This deal reaffirms our appetite for further growth in Italy, where our strategy is to acquire and develop logistics and distribution properties with great infrastructure, connections to the main transport routes and within the key logistics hubs across the country. We are delighted to welcome Carrefour to our Italian portfolio and look forward to supporting the team with its ongoing real estate requirements.”
Paolo Bottelli, CEO of Kryalos SGR said: “There is great interest on the part of international investors in logistics real estate in Italy, particularly in relation to well connected, high-quality assets, located in strategic positions in the main logistics hubs of the country with potential for further development and enhancement.»
Conclude Gianluca Sinisi, Licence Partner Engel & Völkers Commercial: “The Santa Palomba operation makes us proud to have supported Kryalos and GLP in the acquisition of a new platform in the southern area of Rome, confirming the great interest of institutional investors in Logistics Asset Class which with the passing over the years it is establishing itself as strategic on a global level ”.
GLP Italia was supported in the acquisition by Engel & Völkers Commercial and Dentons for commercial and legal aspects of the transaction. On site property management will be managed by CBRE.
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