Tristan fund grows logistics allocation to more than €700m

Curzon Capital Partners 5 Long-Life (CCP 5 LL), the core-plus fund advised by Tristan Capital Partners, has grown its logistics allocation to more than €700 million ($807 million).

Its latest acquisition is a 150,000-square-meter (1.6 million-square-foot) portfolio of five assets located mainly in Emilia Romagna, northern Italy, from Coop Adriatica and Coop Alleanza 3.0.

Sale and leasebacks have been agreed upon for four of the properties. The final asset located in Bologna Interporto is let to third parties.

Coop Alleanza 3.0 is the largest Italian consumers’ cooperative with more than 400 stores, more than 2.3 million customers and €4.4 billion ($5.1 billion) in turnover in 2020. The properties represent the backbone of Coop Alleanza 3.0’s food-distribution network by acting as the delivery and sorting point for grocery goods from suppliers that serve almost 300 grocery stores and points of sale daily. The portfolio GLA breaks down into 25 percent of d