Barings acquires three assets in Italy

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Qanat Quartier is inspired by Venice, Italy. Barings LLC, one of the world's largest real estate managers, has acquired three logistics properties in Northeast Italy. | Courtesy of Property Hunter Real Estate

Barings recently completed three logistic property acquisitions through an Italian real estate fund managed by Kryalos SGR.

The real estate investment manager was able to acquire properties in northeast Italy, one in the Veneto region and two in San Giorgio (Mantova).

“This complex transaction, which we have completed over two years, demonstrates our ability to work flexibly with owner occupiers in order to help them realize their expansion strategies, whilst delivering high quality space that meets specific occupier requirements, especially in the growing cold storage sector,” Marco Corti, Managing Director, Real Estate Country Head – Italy at Barings, said. “This investment also provides sustainable long income for our clients. In Italy alone, we have acquired a total of 250,000 square meters of logistics space and secured a pipeline of a further five transactions totaling 250,000 square meters of logistics warehouses as we continue to expand our logistics platform in Italy in the near future.”

The property located in Isola Rizza, adjacent to Transpolesana Road, is an 11,000 square meter warehouse. It has been converted into a negative cold storage space and is on a long-term lease to Unifreddo Srl.

The other two, which are 46,000 square meters m and 18,000 square meters respectively, are located in the logistics sub-market of Verona.

Barings and Kryalos SGR were advised by Keygre Brokerage Srl, and K&L Gates acted as legal advisor, according to a press release from Barings.

 

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