Celio Fund, a closed-end real estate fund, with EPISO 3 as sole investor, managed by BNP Paribas REIM SGR, and CCP IV funds, advised by pan-European real estate investment manager Tristan Capital Partners, has sold seven Italian logistics assets to GLP. The sale of the c. 200,000m² grade-A portfolio, located around Milan and Rome, represents one of the largest logistics transactions in Italy this year and follows the re-gear of c. 100,000m² of the space in 2020. The assets come with a strong and established tenant line-up and are well-positioned to benefit from the growth of Italy’s two largest cities. The purchase price was not disclosed.
Yassine Berkane, Director, Portfolio and Asset Management at Tristan Capital Partners, said: “This transaction demonstrates the strong desire there is in the market for institutional quality, well-located logistics assets in Italy. Changing consumer habits, including the continued rapid growth of e-commerce businesses, mean that well-located logistics sites which benefit from their proximity to major hub cities will continue to be in demand.”
