{"id":186890,"date":"2019-02-07T11:57:55","date_gmt":"2019-02-07T10:57:55","guid":{"rendered":"https:\/\/www.ab-alternative.com\/?p=186890"},"modified":"2023-10-18T14:18:06","modified_gmt":"2023-10-18T12:18:06","slug":"ab-european-real-estate-fund-bolsters-italian-portfolio","status":"publish","type":"post","link":"https:\/\/www.ab-alternative.com\/de\/ab-european-real-estate-fund-bolsters-italian-portfolio\/","title":{"rendered":"AB European Real Estate Fund bolsters Italian Portfolio"},"content":{"rendered":"<p><em>Geneva, February 7th 2019<\/em><\/p>\n<p>AB Alternative Fund SICAV-SIF has completed its third acquisition in Italy, with the purchase of an attractive logistics warehouse building located in Melzo, in the Milan prime logistic market.<\/p>\n<p>The property is adjacent to the Interport of Melzo, eastern of Milan, and it enjoys a strategic position thanks to efficient regional links to the A4, A1 and A35 highways. Furthermore, Melzo is the logistics corridor linking maritime and inland terminals to the main markets of Italy, Central and Southern Europe.<strong><br \/>\n<\/strong><\/p>\n<p>This property is fully let to CEVA Logistics, a well-known supply chain management company which designs and implements solutions in both freight management and contract logistics. The company has 44,000 employees working in 10 regional clusters around the world. CEVA generated revenue of US$7 billion and adjusted EBITDA of US$280 million in 2017.<\/p>\n<p>The property complex has a size of 26.500sqm circa, and enjoys a regular rectangular shape characterized by 39 loading bays and 26 docks, on 3 sides of the asset. From this property CEVA distributes magazines, packages, forklifts and appliances to northern Italy.<\/p>\n<p>Daniel Delechat, Head of Asset Management at\u00a0<em>Arab Bank (Switzerland) Ltd.<\/em>, concludes: \u201cThis property was acquired at an attractive yield and with a potential of further value creation. With the additional capex program planned on the property, we expect a significant positive upside in terms of value and income generation over the medium term.\u00a0 As a\u00a0next step, we are planning to refinance the existing portfolio and continue to increase our assets under management in Italy with new acquisitions!\u201d\u009d<\/p>\n<p><em>Savills Investment Management<\/em>\u00a0<em>SGR<\/em>\u00a0advised the fund on the origination &amp; execution of the transaction with\u00a0<em>DLA Piper<\/em>\u00a0acting as Legal advisor,\u00a0<em>REAAS<\/em>\u00a0as technical &amp; environmental advisor,\u00a0<em>GVA Redilco<\/em>\u00a0for the commercial aspects.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Geneva, February 7th 2019 AB Alternative Fund SICAV-SIF has completed its third acquisition in Italy, with the purchase of an attractive logistics warehouse building located in Melzo, in the Milan prime logistic market. The property is adjacent to the Interport of Melzo, eastern of Milan, and it enjoys a strategic position thanks to efficient regional [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":179262,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[33],"tags":[],"class_list":["post-186890","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-portfolio-activity-3"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.ab-alternative.com\/de\/wp-json\/wp\/v2\/posts\/186890","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ab-alternative.com\/de\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ab-alternative.com\/de\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ab-alternative.com\/de\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ab-alternative.com\/de\/wp-json\/wp\/v2\/comments?post=186890"}],"version-history":[{"count":2,"href":"https:\/\/www.ab-alternative.com\/de\/wp-json\/wp\/v2\/posts\/186890\/revisions"}],"predecessor-version":[{"id":186892,"href":"https:\/\/www.ab-alternative.com\/de\/wp-json\/wp\/v2\/posts\/186890\/revisions\/186892"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.ab-alternative.com\/de\/wp-json\/wp\/v2\/media\/179262"}],"wp:attachment":[{"href":"https:\/\/www.ab-alternative.com\/de\/wp-json\/wp\/v2\/media?parent=186890"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ab-alternative.com\/de\/wp-json\/wp\/v2\/categories?post=186890"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ab-alternative.com\/de\/wp-json\/wp\/v2\/tags?post=186890"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}