Kryalos SGR, a private and independent asset management company with €14.2 billion in assets under management, announces that it has completed, on behalf of the Canova Fund – which is fully subscribed by a fund managed by Ares Management Real Estate – the acquisition of a logistics portfolio consisting of 8 assets located in key logistics hubs across Northern Italy.

The portfolio was sold by funds sponsored by Blackstone and managed by Kryalos SGR, and is made of high-quality warehouses located in established industrial areas with direct access to major roads and highways. The portfolio, totalling over 150,000 square metres, features a well-diversified tenant mix and will continue to be managed by Kryalos in collaboration with Marq logistics’ team.

This transaction marks the first investment of the Canova Fund, a recently established real estate investment fund focusing on income-generating properties characterised by solid operational fundamentals and attractive prospects for appreciation over time.

As part of the transaction, the Canova Fund secured a loan of €87 million from pbb Deutsche Pfandbriefbank to finance the purchase of the portfolio.

“This transaction marks the Canova Fund’s entry into the Italian logistics sector and confirms the appeal of this asset class to institutional investors. “The structure of the transaction and the quality of the acquired portfolio reflect a targeted selection process focusing on well-located properties with solid income profiles, within a market context that continues to favour logistics as a core segment for long-term investment strategies,” commented Gianluca Vairani, Senior Managing Director of Transaction Management and Head of ESG at Kryalos SGR.

Kryalos SGR, with €14,2 billion of properties under management and a team of 130 professionals, is one of the most active players in the Italian real estate market. Recognised among the “significant in terms of size” SGR according to the definition contained in the Bank of Italy Regulation The company offers transaction management, real estate and credit fund management, development and advisory services and is partner of Italian and international leaders. Further information on www.kryalossgr.com www.kryalossgr.com