LeadCrest Capital Partners acquires two retail stores in Italy through sale and leaseback

The Naples retail warehouse
The Caserta retail warehouse store

LeadCrest Capital Partners has added two stores to its retail warehouses portfolio in Italy in a sale and leaseback deal.

The two prime modern retail warehouses, which total over 17,000 square meters, were sold by Tecnomat, Italy’s largest builders’ merchant and home improvement retailer.

The first, built in 2013, is in Vicenza, Northern Italy, alongside the E70 motorway running east to west and connecting Venice to Milan and also Turin. The second was completed in H2 2023 and is in Caserta, Naples, alongside the A1 motorway running south to north and connecting Naples to Rome. Both warehouses are built to high ESG standards and feature solar panels.

The investment was made through an Italian real estate fund managed by Polis Fondi SGR.

Excited by modern retail warehouses

Diego Vidal Ponte, Head of Investments, Southern Europe at LeadCrest Capital Partners, says, “We are very excited to grow our Italian portfolio and for the continued collaboration with Tecnomat and Adeo, the leading DIY retailer in Italy and in Europe. Italy and the home improvement sector are both strategic for LeadCrest, and we look forward to growing our long-income portfolio further by executing on a robust European pipeline.”

Michele Stella, CEO at Polis Fondi SGR, says, “We are very happy to see LeadCrest investing again with and through Polis, and proud about this new transaction!”

Michele Cuoccio, CFO at Tecnomat Italia, says, “We are delighted to have completed a further transaction with LeadCrest who has a deep understanding of the retail sector as well as longstanding history in the Italian market. We worked with them in an efficient manner and appreciated their solution-driven approach.”

LeadCrest is the first fund exclusively dedicated to sale-leaseback and build-to-suit investments in Europe.

LeadCrest Capital Partners was advised by 5Lex on legal and fiscal matters, and also by Arcadis on the technical aspects of this transaction. Tecnomat was advised by Bird & Bird on the legal matters.

LeadCrest Capital Partners has offices in Luxembourg and Paris.

Founded in France in 1979, Tecnomat, also called Bricoman in other countries, is part of the Adeo group, the largest DIY retailer in Europe and third largest globally.

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