Principal Asset Management SM has acquired a logistics asset in the heart of Tuscany in Italy for LOG IN, the European logistics and industrial fund managed by Theoreim.
The asset, located at Collesalvetti, just 2.5km from the Florence-Pisa-Livorno logistics axis, one of the most important logistics corridors in the region and a major intermodal axis at European level, provides 19,600m2 of logistics space and marks LOG IN’s fourth acquisition in Italy. It is let for a further 12 years to a company specialising in integrated logistics and supply chain management, majority-owned by a world leader in maritime transport.
LOG IN was created in 2022 in partnership with the French alternative investment management company, Theoreim, and is the first French SCPI (Societe Civile de Placement Immobilier) dedicated to European logistics. Principal Asset Management, with eight offices in Europe, is the investment and asset manager of the fund and is seeking to increase LOG IN’s exposure to the industrial, logistics, data centre and life sciences sectors by acquiring assets in lot sizes ranging from €5m to €25m, adding to its existing portfolio of 11 assets in the UK, Spain, Italy and Germany.
Guillaume Masset, head of transactions and asset management for Europe at Principal Asset Management, said: “This strategic asset strengthens our presence in Italy, at the heart of a key logistics region. With a long-term lease and a strong tenant, this acquisition offers a unique combination of income stability and growth potential, which is perfectly in line with LOG IN's strategy.”
Romain Welsch, president of Theoreim, added: “With this second acquisition in Tuscany, LOG IN is continuing its European expansion by joining forces with strong companies and consolidating its presence in strategic regions in response to the growing demand for high-quality logistics services.”
Colliers Italy introduced the deal to Principal Asset Management, which was advised by Studio Inzaghi (legal), Savills (technical) and Forvis Mazars (tax) for the various aspects of the transaction.
Image source - Principal.
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