Manova Partners enters Italian logistics market

Manova Partners has made its first logistics acquisition in Italy, securing two prime, Class A properties in Campogalliano, near Modena.

Campogalliano, Modena - Manova Partners

The purchase was made on behalf of a separate account and through the Callisto fund, managed by Kryalos SGR. The sellers were DeA Capital Real Estate SGR, acting for the BGO-backed GO Italia VI Fund.

Built in 2022, the facilities are part of the HQ of a major Italian third-party logistics provider and meet the latest ESG standards. This acquisition reinforces Manova Partners' strong belief in the logistics sector, particularly in Italy, where they see attractive risk-adjusted returns.

The properties are LEED Gold-certified and boast a 4.8 MW photovoltaic system. 

Strategically located in the established logistics hub of the greater Bologna area, the site is a critical point within the Mediterranean TEN-T core corridors, connecting north-south and east-west traffic. Its direct access to the A1 (Milan-Naples) and A22 (Modena-Austrian border) motorways ensures excellent links to national and international transport networks.

Laetitia Treves, head of Transactions Europe, Manova, commented: “Both properties fit perfectly into our current strategy of acquiring first-class properties with value-enhancement potential in markets where we see increased demand potential in the future. These investments enable us to generate a stable cash flow whilst creating long-term value for our investors.”

This acquisition brings Manova Partners’ total managed properties in Italy to four across various client accounts and investment vehicles. Globally, Manova Partners now oversees over €2 bn in logistics assets.

The transaction was supported by €28 mln in debt financing provided by pbb Deutsche Pfandbriefbank for both properties.

Dils served as the broker for the deal. On the buyer's side, technical due diligence was handled by RYZE, legal advice by Orrick, and tax matters by EY. For the seller, White&Case provided legal counsel, Studio Ekoplan Architetture conducted technical analysis, and EY managed tax aspects.