The Closed-End Real Estate Alternative Investment Fund (FIA) named “Hour” managed by Kryalos SGR, specialized in Last Mile logistics investments in Italy and subscribed by Crossbay, an investment fund managed by MARK (formerly Meyer Bergman), finalized a major debt refinancing with Bank of America.
The fund, which from 2018 to date has concluded the acquisition of 24 Last Mile logistics assets, all located in Italy, for a total GLA of over 200,000 square meters, has obtained from Bank of America the refinancing of the existing portfolio and an increase in the commitment for new pipeline acquisitions. The amount of the loan is € 121 million.
“The financing transaction concluded – said Paolo Bottelli, Chief Executive Officer of Kryalos SGR – confirms the credibility of Kryalos SGR on international markets and the continuous interest of investors and lenders in logistics, an asset class in which we have a market leadership having first believed in the potential of this sector”.
We are also glad – concluded Paolo Bottelli – to consolidate the partnership with an important banking institution such as Bank of America, with which we have developed a lasting and recurring relationship over the years”.