Crescendo Real Estate Advisors makes two acquisitions for second corporate net-lease fund

Crescendo Real Estate Advisors has made the first two purchases for its second €300 million ($361 million)  European logistics/industrial net-lease fund, the Crescendo Preservation & Income Fund 2 (CPI 2).

CPI 2 has purchased the global HQ, R&D and manufacturing facility in Bologna, Italy, of IMA SpA, a world leader in the design and manufacture of automatic machines for the processing and packaging of pharmaceuticals, tobacco, cosmetics and tea. CPI 2 negotiated a new 15-year net lease. In addition, CPI 2 has acquired an automotive equipment manufacturing facility in Oss, the Netherlands, in a sale-leaseback with a global automotive parts manufacturer based on a 20-year net lease.

“These two deals illustrate that, despite COVID-19 or perhaps in part because of it, there are compelling mid-market industrial real estate deals in Europe to be done,” said Daniel Quai, co-founder Cabot Lodge. “We have a number of strong equity deals in our pipeline targeti