Milan – 29 October 2021 – Curzon Capital Partners 5 Long-Life (CCP 5 LL), the core-plus fund advised by Tristan Capital Partners, has grown its logistics allocation with the acquisition of a portfolio of c. 150,000 sqm Gross Lettable Area (GLA). The portfolio is made up of five assets from Co-op Adriatica and Co-op Alleanza 3.0.
The assets are located mainly in Emilia Romagna, Northern Italy. Sale and leasebacks have been agreed on for four of the properties; the final asset located in the heart of Bologna Interporto is let to third parties.
Coop Alleanza 3.0 is the largest Italian consumers’ cooperative based on number of stores (over 400), members (over 2.3 million) and turnover (€4.4 billion in 2020). The properties represent the backbone of Coop Alleanza 3.0’s food distribution network by acting as the delivery and sorting point for grocery goods from suppliers, which serve almost 300 grocery stores/points of sale daily. The portfolio GLA breaks down into c. 25% of dry storage and 75% of cold storage.
CCP 5 LL was advised by Greenberg Traurig Santa Maria partner Federico Barbara and associate Flavia Guancioli for all legal aspects and partner Corrado Angelelli and associate Antonio Izzi for all aspects related to the financing.
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