Principal Asset Management has acquired an industrial asset in Tuscany, Italy, in a sale-and-leaseback transaction for LOG IN, the European logistics and industrial fund managed by Theoreim.
The asset, located at San Donato, close to the Florence-Pisa-Livorno logistics axis, comprises two buildings totaling 9,200 square meters (98,830 square feet). It marks LOG IN’s fifth acquisition in Italy. It has been leased back on a 15-year lease to the vendor and occupier, a leading manufacturer of insoles for luxury footwear, which has established its head office and main production center at the site.
The two buildings underwent major renovations between 2021 and 2024, incorporating photovoltaic solar panels on the roof to improve energy efficiency.
LOG IN also has an option to purchase a second building occupied by the same tenant, located near Padua and Venice. This 3,800-square-meter (40,900-square-foot) asset is currently being renovated and is scheduled for compl
