SGR has launched an institutional fund targeting Italian logistics properties.
The Italian real estate investment manager has bought a portfolio of three assets for 鈧�75m to seed the newly launched fund.
The Fondo Logita vehicle will offer investors exposure to 鈥渘ext generation logistics properties鈥�, Prelios said.
Andrea Cornetti, general manager of the institutional investment arm of Prelios Group, said the company was targeting Italian and international investors.
鈥淸It] is intended for institutional investors with a medium-to-low risk-return profile, interested in constant returns, including foreign investors specialised in the logistics sector and some international pension funds,鈥� he said.
The aim is to eventually own a 鈧�350m portfolio covering 600,000sqm of commercial space. The fund will only invest in recently constructed assets leased to 鈥渕arket leading鈥� tenants on contracts of nine to 16 years.
Cornetti said the fund 鈥渨ill focus, for the most part, on next-generation logistic centres, state-of-the art assets featuring integrated services tied to logistics, equipped with high-level facilities and security systems鈥�.
The three logistics assets bought for the fund are located in central northern Italy.
鈥淲ith this acquisition, Prelios SGR enters the logistics real estate market, a high-growth sector that at the same time attracts international investment and is also a catalyst for local economic growth,鈥� Cornetti, said.
鈥淭he transaction we finalised today, after the launch of the Madison Imperiale Fund and the roll-over of the Raissa Fund, is the third significant transaction with leading international institutional investors concluded since the beginning of the year.鈥�
, Prelios also launched its real estate fund in Germany.
