Kryalos SGR and Crossbay acquire logistics asset in Italy

Kryalos SGR and Crossbay, through their Bay Fund, have acquired a 52,000 m2 last-mile logistics facility in Fiumicino, Italy. 

Logistics - Crossbay

The Bay Fund, managed by Kryalos SGR, specialises in high-quality last-mile logistics properties with strong ESG credentials.
The acquired property, located at Via della Corona Boreale 240, Fiumicino, was purchased from LF1, a company partly owned by Edizione Property. 
The complex boasts approximately 50,950 m2 of warehouse space and 1,550 m2 of offices, featuring 78 loading bays and 5 ground-level doors. It is fully leased to three reputable tenants involved in cold-chain logistics, express courier services, and catering/hospitality product distribution.
This acquisition brings the Bay Fund's portfolio to 9 assets, totalling 148,000 m2, all focused on strategically located, last-mile logistics with robust leasing fundamentals and high ESG standards. The Fiumicino property recently underwent significant refurbishment and holds a BREEAM "Very Good" certification, highlighting its environmental sustainability and long-term value.
Paolo Bottelli, CEO of Kryalos, commented: “The acquisition of the Fiumicino asset is a tangible example of our investment strategy in the last-mile segment, which is characterised by structurally strong demand and high barriers to entry. Its proximity to the airport and to Rome’s urban fabric, combined with the high functionality of the building and a diversified tenant base of primary standing, makes this asset particularly attractive within the Italian logistics market.” 
Pietro Bucci, senior VP, Crossbay, stated: “This is a high-quality, strategically located asset that delivers immediate income to our investors and demonstrates the strength of occupier demand in last-mile logistics. The sub-sector continues to prove its resilience in the face of macro volatility, and where pricing conditions present a compelling opportunity to expand portfolios in Europe’s most supply-constrained markets.”
Mauro Montagner, CEO of Dekus, which acted as advisor to the seller, added: “The transaction confirms Dekus’s approach to integrated management across the entire real estate cycle. The refurbishment of the asset made it possible to significantly enhance its performance, achieving BREEAM ‘Very Good’ certification and attracting tenants of primary standing. The subsequent disposal highlights the effectiveness of a disciplined asset management strategy focused on value creation throughout all phases of the transaction.”