COIMA SGR is expected to reach a target of €1bn of investment in logistics this year as part of its continued growth in the sector. After the first dedicated COIMA Logistics Fund launched in 2013, investing some €100m with a performance of 18% IRR, COIMA is now bringing forward COIMA Logistics Fund II. The investment strategy for the fund will focus on creating a broad logistics platform fully aligned to the demands of contemporary occupiers through the acquisition of both leased properties and buildings to develop and be let.
The completed projects and those in pipeline comprise over 800,000m² and a total value of approximately €800m, with plans of further investments this year bringing COIMA’s total logistics investment portfolio to €1bn.
Transactions completed in the last quarter, totalling over €400m, include:
- a 105,000m² logistics asset in south-east Milan, consisting of a new grade A centre built by a leading logistics and industrial properties developer, leased to well-established 3PL and e-commerce operators;
- a complex of two properties covering approximately 16,000m² in the municipality of Liscate, a consolidated logistics location on the outskirts of Milan. The properties are both income-generating and rented to a primary logistics operator active in the pharmaceutical-cosmetic sector;
- a portfolio of 11 properties located in the Triveneto logistics market. The real estate complex has a rentable area of about 175,000m² and 15 major photovoltaic plants with an installed capacity of approximately 12 MWp. The portfolio is fully let, leased to primary tenants active in the logistics and production sector;
- adjacent to the same park, a property acquired as an add-on, with an area of approximately 50,000m² and rented to a leading manufacturer of homecare products;
- two properties covering a total gross area of 140,000m² in Bologna and Piacenza, rented to leading tenants in the e-commerce sector including Amazon and YOOX Net-a-Porter Group.
In addition to the €400m assets already in the COIMA Logistics Fund II portfolio, COIMA is currently finalising an investment pipeline comprising a further €400m. This consists of a portfolio to be developed in northern Italy, leased primarily to leading logistics operators with LEED and BREEAM environmental certifications and in accordance with the best international benchmarks.
Manfredi Catella, founder and CEO of COIMA SGR, said: "COIMA began investing in the logistics sector in 2010, in partnership with specialist operator 2K, and today we continue to see huge potential in the sector for further growth. After the success of the first COMIA Logistics Fund, we are now pushing forward with a second wave of investment, continuing to target logistics assets that are fully aligned with the highest standards of sustainability and deliver what contemporary occupiers need. Our investments acceleration programme will enable us to strengthen our knowledge and expertise within the industrial sector in product and management, integrating the Sustainable Finance Disclosure Regulation requirements to which COIMA adhered by the deadline of March 2021 set by the European Union.”
