Italian beauty and fashion group Prada has confirmed the acquisition of a portfolio of four logistics assets in Montegranaro, Arezzo and Montevarchi, northern Italy, for around EUR 50 mln. The seller is Spazio Industriale, a closed-end fund managed by Prelios, formerly Pirelli Real Estate.

The properties provide over 66,000 m2 of logistics space. Back in 2005, Prada had sold the assets together with three other assets in a EUR 77 mln sale-and-leaseback transaction with Spazio Industriale.

Spazio Industriale is a partnership between Prelios and Celtic, the industrial branch of Laxey which in 2009 gained control of Spazio Industriale. The fund owns one of the largest industrial portfolios in Italy comprising 369 properties across the country.