Kryalos SGR acquires first logistics asset for Canova Fund

Italian independent asset manager Kryalos SGR has completed the first investment for its newly launched Canova Fund, fully subscribed by a fund managed by Ares Management Real Estate.

Italian logistics hub - Kryalos Canova

The transaction involves the acquisition of a logistics portfolio of eight properties located in key hubs across Northern Italy, totalling more than 150,000 m² of high-quality warehouse space. The assets, previously owned by funds sponsored by Blackstone and managed by Kryalos, feature a diversified tenant base and will continue to be managed by Kryalos in partnership with Marq Logistics.

As part of the deal, the Canova Fund secured an €87 mln loan from pbb Deutsche Pfandbriefbank to finance the purchase. The fund is focused on income-generating properties with strong operational fundamentals and long-term value appreciation potential.

This marks Kryalos’ first investment in France through the Canova Fund, reinforcing its strategy of expanding across Europe with next-generation, sustainable logistics assets.

Gianluca Vairani, senior managing director of Transaction Management and head of ESG at Kryalos SGR, stated: “This transaction marks the Canova Fund’s entry into the Italian logistics sector and confirms the appeal of this asset class to institutional investors. The structure of the transaction and the quality of the acquired portfolio reflect a targeted selection process focusing on well-located properties with solid income profiles, within a market context that continues to favour logistics as a core segment for long-term investment strategies.”