Prologis Inc. sold four logistics assets in Northern Italy to the Carlyle Group LP for an undisclosed sum.
Carlyle also acquired one other logistics asset in the region from an undisclosed European investment fund, marking the global alternative investment manager's entry into the Northern Italian logistics market.
Carlyle bought the five-property, 210,000-square-meter portfolio, which is more than 90% occupied, on behalf of investment funds that it advises. The company funded the purchase using debt and equity, with Aareal Bank providing a financing facility.
JLL and DLA Piper were Prologis' advisers on the deal, while Carlyle was advised by Freshfields Bruckhaus Deringer and PwC.
CBRE offered strategic and transactional market advice to Carlyle, with Logistics Capital Partners to provide leasing, property and technical management for the assets.
