June 24, 2024 |
24 June 2024: Logicor, a leading owner, manager, and developer of European logistics real estate, and Kryalos SGR, a private and independent asset management company among the SGRs "significant by size" according to the definition contained in the Bank of Italy Regulation, have announced the acquisition of land in Gaggiano, on the outskirts of Milan, which will see a major redevelopment project take place across an area of more than 175,000 sqm.
The project, overseen by Logicor, will start in Q4 2024 and involves the redevelopment of the former Safosa area, which has been abandoned for several years. According to the plan, about 100,000 square meters will be regenerated to create a new state-of-the-art logistics park, which will house warehouses and ancillary spaces. Through flexible design, the assets can be adapted to meet the needs of the future customers.
The site, acquired by the Mazer Fund, a closed-end real estate investment fund managed by Kryalos SGR and participated by Logicor, is located in a strategic area near Milan, the site is adjacent to the SS 494-Nuova Vigevanese and just over 4 km away from the entrance to Milan's Tangenziale Ovest, which connects the city with the A1-Autostrada del Sole, A4-Milano Venezia and A8-Autostrada dei Laghi freeway junctions. It is just 30 km from Milan, Linate Airport and 45 km from Milan, Malpensa Airport.
As part of the project, a new 2km road link will be built, which will include an elevated bridge over the Naviglio Grande, connecting the site to the Nuova Vigevanese road without causing congestion in the local area.
The new logistics hub will further expand Logicor's presence in the Milan area and will be characterized by a strong focus on sustainability. Photovoltaic systems, LED lighting, electric vehicle charging stations, and landscaping, to better integrate the project with its surroundings and support the local flora and fauna, will all contribute to the site achieving at least a BREEAM Very Good rating once completed.
Graeme Hepburn
Logicor Country Manager Italy
Gianluca Vairani, Kryalos SGR Senior Managing Director Transaction Management & Head of ESG, added: “Kryalos continues to invest in logistics, a benchmark asset class for the real estate market. The Gaggiano operation represents a complex process of urban regeneration with a strong focus on sustainability and is a perfect example of public-private cooperation that could be achieved thanks to the expertise, perseverance, and dedication of all parties involved.”
With more than 2.6 million sqm in real estate assets, both managed and owned, across regions such as Lombardy, Veneto, Emilia- Romagna and Lazio, Logicor is continuing to grow its presence in Italy by developing and refurbishing logistics hubs in strategic locations for the distribution of goods. Logicor has recently completed several projects in the Milan region, including a new logistics hub in Lainate and a refurbishment project in Vignate.
The following partners worked with Logicor and Kryalos SGR on the Gaggiano land acquisition project: EY (tax & financial), JonesDay (legal DD and SPA negotiation, Bertacco Recla (admin lawyers), The Blossom Avenue (planning), TEA Consulting (environmental), Majone & Partner (road engineers) and Progeca (project & construction management).
About Logicor
Logicor is a leading owner, manager and developer of European logistics real estate. As at December 2023, our portfolio of properties spans over 20 million square metres of warehouse space in key transportation hubs and close to major population centres, enabling us to support over 2,000 customers. We are headquartered in London and Luxembourg and have teams of people based across Europe. Our real estate and the strength of our network enable our customers’ goods to move through the supply chain and into society, every day. For more information visit logicor.eu
About Kryalos SGR
Kryalos SGR, with assets under management of 12.5 billion euros and a team of 115 professionals, is one of the most active players in the Italian real estate market. Kryalos SGR offers transaction management, fund & credit management, development, and advisory services and is a partner of leading Italian and international companies. More information at www.kryalossgr.com
For further information:
Logicor Italia srl
Cinzia Furlani
Comms & Marketing Manager, Sud Europa
[email protected]
Press Office – OPRG
Massimo Garanzini, Roberto Carnazza, Chiara Bianchi
[email protected]
Kryalos SGR
Raffaella Ciafardini
Tel. +39 02 92947100
Cell. +39 334 9953902
[email protected]
Serena Galdo
Barabino & Partners
Cell. +39 345.14.64.356
[email protected]
Claudio Cosetti
Barabino & Partners
Tel. +39 02 72023535
Cell. +39 335 7491683
[email protected]