October 20, 2022

SFO Capital Partners and GARBE close logistic greenfield development nearby Milan

SFO Capital Partners, a global real estate investor and investment manager, and GARBE Industrial Real Estate, one of the leading European specialists for the development and management of logistic real estate, have completed the acquisition of a greenfield development land located in Greater Milan, to be developed into a ~83,000 sqm leasable warehouse area with the highest technical and environmental standards. This acquisition is located in the heart of Lombardy, one of Europe’s most prominent logistics hubs. Following its erection and lease-up the building will be well positioned to attract core institutional investors who in the respective segment are looking for a stable cashflow at a strong performing location, incorporating exemplary ESG standards.

Mohamad Abouchalbak, CEO at SFO Capital Partners, said: “We are thrilled to further expand our logistic real estate investment program with this acquisition in Northern Italy, in an asset class that continues to show outstanding resilience and is characterized by strong demand driven by e-commerce and a record low vacancy rate in Europe. We are executing our plan to assemble a cross-border logistic real estate portfolio of strategically-located assets in key markets, building on our successful divestment in the Netherlands earlier this year as well as our fruitful partnership with GARBE.”

Marco Grassidonio, Country Head GARBE Industrial Real Estate Italy, said  : “Together with our partner SFO Capital Partners we were able to secure this investment opportunity through direct market access. The development project is located in the Milan submarket and has excellent transport links. A building permit has already been granted and the completion of the project development is scheduled for November 2023. Our focus to executive design will allow us to target a Leed Platinum certification, in line with most advanced ESG criteria. The acquisition underlines GARBE’s ambitions to grow further in Italy. In Italy, as in all of Europe, the demand for logistics space is very high, especially in the economically strong metropolitan regions and the central transport hubs of the country where demand exceeds supply.”

About SFO Capital Partners: SFO Capital Partners is a London-based global real estate investor and investment manager, committed to achieving superior risk-adjusted returns and focused on establishing and maintaining long-term relationships with its global clients and partners. SFO Capital Partners applies its global mindset, in-depth sector experience and local knowledge to unlock international real estate investment projects in Europe and the USA across a select range of investment strategies including income-generating, value-add and development schemes. As of December 2023, SFO Capital Partners has acquired a diversified portfolio comprising more than $2.4 billion in assets located primarily in the USA and Europe, including 7,400 apartments and more than 10.8 million square feet of commercial real estate under management.

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