13th December 2017 | in Press Release | by Carlyle
Global alternative investment manager The Carlyle Group (NASDAQ: CG) announces that is has extended its European logistics platform through the acquisition of five logistics assets in Northern Italy, on behalf of investment funds that it advises.
The portfolio was purchased in two separate transactions with one asset having been acquired from a European investment fund and the remaining four from Prologis. All of the assets are located within the Northern Italian logistics corridor, which is centred around Milan and spreads between Bologna, Venice and Turin. The entry into the Italian logistics market follows Carlyle’s acquisition of 413.000 sqm of French logistics assets earlier this year.
In aggregate the portfolio is currently more that 90% occupied, with two-thirds of the value concentrated in high-quality building in prime logistics hubs near Milan. Carlyle had identified a number of value-enhancing asset management opportunities, including lease-up of the vacant space, refurbishments, lease re-gears and potential new development.
This is also the start of an ongoing initiative with sector specialists, Logistics Capital Partners, who will assist across the Italian portfolio as it grows.
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