Manova Partners Completes First Italian Logistics Real Estate Acquisition Near Modena via Kryalos SGR
Manova Partners has completed its first logistics real estate acquisition in Italy, purchasing two Class A industrial properties located near Modena in the Campogalliano area, the firms announced March 27, 2026. The transaction was executed through a separate account managed by Kryalos SGR, one of Italy's most active real estate fund managers.
Property and Deal Details
The two buildings, completed in 2022, together comprise more than 50,000 square meters of gross leasable area — approximately 538,000 square feet. The properties serve as the headquarters for one of Italy's largest third-party logistics providers. The sale price was not disclosed.
Acquisition financing of €28 million in senior debt was arranged through Deutsche Pfandbriefbank. No cap rate, price per square meter, or occupancy figures were disclosed in connection with the transaction.
Strategic Significance of the Real Estate Acquisition
The Campogalliano location sits near Modena in northern Italy, an established area for logistics real estate activity.
For Manova Partners, the transaction marks its entry into the Italian logistics market. The firm manages approximately €11 billion in assets under management across 174 properties in Europe, North America, and South America.
About the Firms Involved
Manova Partners is a Munich-based, employee-owned international real estate investment manager with approximately €11 billion in assets under management. The firm operates through 18 regional offices across Europe, North America, South America, and Korea, with a team of approximately 160 real estate professionals. It was founded in 2000 as GLL Real Estate Partners and was part of the Australian Macquarie from 2018 to 2024, before becoming independent as Manova Partners GmbH in December 2024. Its investment focus spans the office, retail, logistics, and residential sectors.
Kryalos SGR, with headquarters in Italy, manages approximately €14.2 billion in properties and employs a team of 130 professionals. The firm is classified as "significant in terms of size" under Bank of Italy regulations and offers transaction management, real estate and credit fund management, real estate development, and advisory services. Kryalos SGR serves as a partner to both Italian and international institutional investors.
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