LeadCrest Capital Partners (LeadCrest) announced the addition of two new stores to its retail warehouse portfolio in Italy. The investment was made through an Italian real estate fund managed by Polis Fondi SGR. The seller is Tecnomat.
The portfolio consists of two modern retail warehouses covering over 17,000m2. The first asset was constructed in 2013 and is located in Vicenza, Northern Italy, along the E70 motorway. This motorway runs from east to west, connecting Venice to Milan and Turin. The second asset was completed in the second half of 2023 and is situated in Caserta, a suburb of Naples, Southern Italy's hub. It is located alongside the A1 motorway that runs south to north, connecting Naples to Rome.
Both assets are built to high environmental, social, and governance (ESG) standards and are equipped with solar panels.
Michele Cuoccio, CFO at Tecnomat Italia, said: “We are delighted to have completed a further transaction with LeadCrest which has a deep understanding of the retail sector as well as a longstanding history in the Italian market. We worked with them in an efficient manner and appreciated their solution-driven approach.”
Diego Vidal Ponte, Head of Investments, Southern Europe at LeadCrest Capital Partners said: “We are very excited to grow our Italian portfolio and for the continued collaboration with Tecnomat and Adeo, the leading DIY retailer in Italy and Europe. Italy and the home improvement sector are both strategic for LeadCrest, and we look forward to growing our long-income portfolio further by executing on a robust European pipeline.”
Michele Stella, CEO at Polis Fondi SGR “We are very happy to see LeadCrest investing again with and through Polis, and proud about this new transaction!”
LeadCrest Capital Partners was advised by firms 5Lex on the legal and fiscal matters, and by Arcadis on the technical aspects of this transaction. Tecnomat was advised by firms Bird & Bird on the legal matters of this transaction.
Image provided by LeadCrest.
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