SFO Capital Partners and GARBE Industrial announce the sale of its 83,000 sqm Giovi Logistics Park in Milan

London, 22 September 2026 – SFO Capital Partners, a London-based global real estate investor and investment manager, together with GARBE Industrial Real Estate Italy, one of the leading European specialists for the development and management of logistic real estate, have signed the sale of Giovi Logistics Park, an 83,000 sqm Grade A logistics facility in Greater Milan, to one of the world’s largest institutional real estate investment managers. The transaction was signed on 6 August 2026.

At 83,000 sqm, Giovi Logistics Park ranks among the largest single-asset logistics transactions in the Italian market in 2026, a year in which Italian logistics investment reached a record €1.25 billion in the first half alone, up 50% year on year, with the largest volumes concentrated in multi-asset portfolio deals rather than single assets of this scale.

Acquired as a brownfield development site in October 2022 and delivered on time and on budget in February 2024, Giovi Logistics Park was developed from the ground up into a LEED Platinum-certified logistics facility in the heart of Lombardy, Italy’s largest logistics market, four kilometres from the A7 Casei Gerola junction and with direct access to the Milan–Genoa corridor and the Port of Genoa. The asset is fully let to four institutional-grade logistics operators on leases that are 100% CPI-indexed, with a weighted average unexpired lease term of 10.6 years and passing rent approximately 29% above original underwriting.

The project brought together institutional partners across the full lifecycle of the investment. The asset was held through the Giove Fund, managed by Prelios SGR S.p.A., and was development-managed by GARBE Industrial Real Estate Italy, which also co-invested alongside SFO Capital Partners. Development financing was provided by UniCredit S.p.A. and subsequently refinanced by Bayerische Landesbank in 2025.

Mohamad Abouchalbak, CEO at SFO Capital Partners, said: “Italy remains one of our highest-conviction logistics markets, and the fundamentals are compelling as there remains a structural shortage of modern Grade A space across the country’s core distribution corridors. The depth of institutional interest we saw through this process, from domestic and international capital alike, speaks to exactly that. We continue to have a significant footprint in Italy and we intend to keep investing and developing there alongside partners such as GARBE, with whom we have built a highly productive relationship over several years and multiple transactions.”

Marco Grassidonio, Managing Director and Country Head Italy of GARBE, commented: “We acquired a disused industrial site, remediated it and brought it to full occupancy, and exited just over two years after completion. This is the cycle we commit to when we invest: the outcome of a development is decided at the permitting stage and in the quality of the remediation, well before the moment of sale. Giovi confirms that the Italian market today rewards assets where that work has been done well.”

Dils and Colliers advised GARBE and Prelios SGR on the sale of the asset, having previously acted as co-agents on the marketing and letting of the scheme, supporting the project from initial marketing through to completion of the sale.