The Carlyle Group sells Northern Italian logistics platform for €270 million

Milan, Italy - Global investment firm The Carlyle Group (NASDAQ: CG) today announced that it has sold CER-L fund, its Northern Italy logistics portfolio, to AXA Investment Managers – Real Assets (“AXA - IM Real Assets”).

This portfolio comprises 13 high-quality assets, strategically located in the established logistics submarkets serving Northern Italy, including Greater Milan, Turin and Padua. In aggregate, the portfolio is 390,000 m² in surface area.

Having acquired the first asset in October 2017, over a period of 3 years, Carlyle has successfully built an institutional-quality logistics platform through 8 acquisitions, refurbishments and developments, and a leasing and active asset management strategy. The portfolio has benefited from the strong fundamentals within the European logistics space, driven by continued growth in e-commerce, and has proved resilient throughout the Covid-19 pandemic.

Anssi Halonen, Managing Director on the Carlyle Europe Realty advisory team, said: “We are pleased to have worked with AXA IM – Real Assets on the sale of CER-L fund, our Northern Italian logistics portfolio. This transaction exemplifies our strategy of investing in well-located, high-quality assets through successful asset acquisition and active asset management, supported by a strong market environment that has benefited from rapid growth in e-commerce. We are proud of what we have achieved with this platform and remain active in the Italian market.”

Carlyle was advised by Greenberg Traurig Santa Maria, Di Tanno Associati, and CBRE for this transaction, and Oxalis acted as advisors on strategy and asset management. 

This transaction follows the recent announcements of the Carlyle Europe Realty fund having acquired a portfolio of 27 distribution logistics assets in France and Germany in October 2020, and UK senior housing developer Beechcroft in November 2020.

ENDS

Press Enquiries
The Carlyle Group
Andrew Kenny
Tel: +44 7816 176120
Email: Andrew.Kenny@Carlyle.com

Barabino & Partners S.p.A.
Marina Riva
Tel: +39 3472975426
Email: m.riva@barabino.it

About The Carlyle Group
The Carlyle Group (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across four business segments: Corporate Private Equity, Real Assets, Global Credit and Investment Solutions. With $230 billion of assets under management as of September 30, 2020, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. The Carlyle Group employs more than 1,800 people in 30 offices across six continents. Further information is available at www.carlyle.com. Follow The Carlyle Group on Twitter @OneCarlyle.

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