Sources said to BeBeez that Kryalos, a firm with 14.2 billion euros of assets under management, acquired on behalf of Fondo Canova (a vehicle in which invested Ares Management Real Estate) eight logistic assets with a total surface of above 150000 sqms based in the North of Italy for 126 million from Blackstone (see here a previous post by BeBeez). Fondo Canova received a financing facility of 87 million from pbb Deutsche Pfandbriefbank. Kryalos and Marq Logistics will manage the portfolio. Gianluca Vairani is a senior managing director Transaction Management and head of ESG of Kryalos.
Gruppo Building, a real estate developer that Piero Boffa founded and ceo Luca Boffa heads, sold to Ares Management Corporation and Eurofund Group a portion of Turin’s Settimo Cielo Retail Park for 77 million euros (see here a previous post by BeBeez). Ares closed the deal through a fund that Kryalos manages. Settimo Cielo has a GLA of 80000 sqms, per avviare un’operazione di sviluppo commerciale di scala territoriale.
Unicredit committed with 32.5 million euros in support of the real estate securitization through Wonder spv of Rome’s Pacifico Living 19900 sqms residential development that GWM Group launched (see here a previous post by BeBeez). Unicredit acquired the senior notes while GWM purchased the junior asset backed partly paid items. Pacifico Living will initially make available 120 flats, 35 of which will be part of social housing plans and later build a further 150 units. Marianna Plafoni is Unicredit’s regional manager for central Italy.
Kryalos and King Street capital management (KSC) closed two forward purchase deals for an asset in Milan’s Via Cesare Beruto 18 and another in Padua’s Viale della Pace for the development of student residences (see here a previous post by BeBeez). Pohl Immobilien and Gruppo Industrie Edili Holding will act as developers. The residences will have 530 single rooms. Paolo Bottelli is the ceo of Kryalos.
Fondo Giano, a vehicle that Czech P3 Logistic Parks subiscribed and Savills Investment Management manages, launched a logistic development of above 22000 sqms in Castel Gabbiano (Cremona area) (see here a previous post by BeBeez). Christian Motola is the Head of Asset Management Italy of P3 Logistic Parks that will act as development advisor and WCG – World Capital Group will manage the sale.
