Manova Partners has acquired two logistics properties in Campogalliano near Modena for a separate account via the Callisto Fund managed by Kryalos. The two buildings were sold by DeA Capital Real Estate SGR on behalf of the GO Italia VI Fund, which is fully financed by BGO. The Class A properties, completed in 2022, are part of the headquarters of one of Italy's largest third-party logistics providers, and have a high level of third-party usability as well as comprehensive ESG standards.
This transaction once again confirms Manova Partners' firm conviction in the logistics sector, especially in the Italian market, where we are seeing interesting risk-adjusted returns.
The properties are LEED Gold certified and have a photovoltaic system with a capacity of 4.8 MW. They thus meet common requirements for sustainability and energy efficiency in the logistics sector.
The properties are located in the greater Bologna area, an established logistics market in Italy. The region is part of the Mediterranean TEN-T core corridors and acts as an important hub for north-south and east-west traffic. In addition, the site is located directly at the intersection of the A1 (Autostrada del Sole, Milan-Naples) and A22 (Autostrada del Brennero, Modena-Austrian border) motorways and offers direct access to the national and international transport network.
Laetitia Treves, Head of Transactions Europe, Manova: "Both properties fit perfectly into our current strategy of acquiring first-class properties with upside potential in markets where we see increased demand potential in the future. These investments allow us to generate stable cash flow while creating long-term value for our investors."
With the transaction, Manova Partners is expanding its activities in the Italian logistics market. In total, the company manages four properties in Italy for different mandates and investment vehicles. Globally, Manova Partners now manages more than €2 billion in the logistics sector with this acquisition.
The debt financing comes from pbb Deutsche Pfandbriefbank and adds up to 28 million euros for both properties.
Dils worked as a broker. RYZE was responsible for the technical due diligence for the buyer, Orrick provided legal advice and EY was responsible for tax issues. On the seller side, White&Case provided legal advice, Studio Ekoplan Architetture was responsible for the technical analysis and EY overlooked the tax aspects with another team.
