INVESTMENT HIGHLIGHTS
- An arbitrage opportunity exists in the Italian light industrial real estate sector which offers the potential
for outsized risk-adjusted returns of 15%+ cash flow yields with a protected downside. The Sponsor is looking to form a JV with an equity provider in order to exploit this unique opportunity.
- In Italy, there is not an established group of institutional or other natural buyers for Industrial real estate compared to other countries where heavy investments by institutional investors have already occurred creating large investment platforms.
- Asset Profile: The Sponsor expects IRR of 18.5% per asset with a targeted dividend/rental yield of no less than 10% p.a. In terms of Capital Value identified has a target to invest at or around the vacant possession value (€300-650 /m2) and aim to also be c. 50% below replacement cost.
- The buildings identified are fundamental to the tenant, akin to core infrastructure. All buildings identified are extremely flexible, both in terms of location and of physical structure, to allow for a variety of
alternative occupiers or uses in the future.
- Last Mile Logistics: The assets targeted offer the possibility to
convert to alternative use in the future as last-mile logistics, which is entering a huge growth phase in Italy, alongside
the global e-commerce trends.
- The Sponsor objective is to create an investment vehicle together with an investor to act the opportunities identified and secured. The Sponsor long-term objective is to create a light industrial platform that can be sold to institutional capital in 5 years.
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