Milan, 17 January 2022 – Jupiter Fund, specialized in last-mile logistics investments, backed by Blackstone real estate funds and managed by Kryalos SGR, has finalized three important acquisitions in Italy for a total area of approximately 140,000 sqm.
The first investment involves a real estate complex consisting of 10 last-mile logistics assets with a total area of 67,000 sqm located near the city of Bergamo. In particular, the complex, which is entirely leased to a primary operator active in the logistics and shipping sector, is located in an industrial area with easy access to the A35 (BreBeMi) and A4 motorways, and just 30 km from Milan.
The second acquisition concerns eight last-mile logistics assets located between Northern and Central Italy, in particular in Veneto, Lombardy and Tuscany. The assets boast a total area of over 60,000 sqm, 143 loading bays, are leased to various tenants and located near the main provincial capitals.
Finally, the third portfolio includes four properties located near the cities of Naples, Turin and in Interporto di Bologna for a total area of approximately 11,133 sqm. Three of the four properties are leased to a primary logistics operator active globally, while the remaining asset is leased to a road haulage company active throughout North-East Italy. The portfolio is served by a total of 69 loading bays and is well connected to the main road arteries of the country.
The assets acquired expand the last-mile logistics portfolio held by the Jupiter fund, currently comprising a total of 24 properties located mainly in North-Central Italy, in densely populated areas near major cities that allow it to reach millions of inhabitants, for a total area of 180,000 sqm.
“Last-mile logistics continues to record a positive trend, encouraged by continuously growing elements such as e-commerce, technological innovation and new delivery methods, which consumers around the world are embracing. The demand for spaces strategically positioned near urban areas, is therefore high. Our Company immediately grasped the potential of this specific asset class and continues in this investment strategy to better diversify investments in logistics, creating ever greater value for our investors.” – stated Paolo Bottelli, Chief Executive Officer of Kryalos SGR.