Italy’s real estate asset manager Prelios sgr launched the new closed-end fund Logita which will target new generation logistics estates. The fund, which has been structured with Hogan Lovells’ legal support, has raised 350 million euros from primary international institutional investors. And British real estate giant Segro Plc is said to be among them.
Listed on the London Stock Exchange, Segro had just announced the sale of a group of fully-let warehoused in italy and Czech Republic to Segro European Logistics Partnership, a joint venture with Public Sector Pension Investment Board, for 89.4 million euros(see here the press release).
Sole 24 Ore newspaper wrote that Logita fund is signing the acquisition of a fiorst real estate portfolio composed by three buildings in Northern and Central Italy for a total consideration of 75 million euros.
Last May Prelios sgr launched Madison Imperiale which had already invested in a number of telephone exchanges and was entirely subscribed by Monarc. At the same time Prelios spa (the listed company which controls Prelios sgr) sold to Tpg Special Situations its 35% stake in the Raissa fund (the remaining 65% is owned by Morgan Stanley), managed by Prelios sgr. The Raissa fund is in turn invested in telephone exchanges rented by Telecom Italia (see here a previous post by BeBeez).
In the next two or three months the new Iaso fund will be structured and will buy real estate assets from Fondazione Maugeri as part of a debt restructuring plan of the manager of healthcare and hospitals in Italy agreed with the Pavia Court and Trilantic Capital Partners, which is going to invest new cash in the Fondazione Maugeri e to subscribe the Iaso fund. Proceeds from the sale of the real estate assets will be returned to Fondazione Maugeri’s commercial lenders (see here a previous post by BeBeez).
Finally Prelios sgr is still working to the structure of a new fund, called Thalassa, which will buy real estate assets from Rome Acquarium.
