“Centro Logistico Orlando Marconi” (CLOM) is an intermodal logistics park located in Central Italy (near San Benedetto del Tronto), rented to a top flight and diversified customer base. Built in stages between 1995 and 2006 by the owning Marconi family, the park is composed of 9 warehouses, an office building and a canteen, with over 150,000 sq.m. of covered space (of which ca. 18,000 sq.m. dedicated to cold logistics), on a total area of over 400 thousand sq.m. CLOM benefits from a strategic position along the A14 motorway which connects Bologna to Bari and which represents – thanks to the connection with the European E55 route – one of the most important commercial corridors in Europe.
Ethica Corporate Finance advised the Marconi family, owners of CLOM, in the sale of the park to Cromwell European REIT, a real estate investment trust listed on the Singapore Stock Exchange and promoted by Australian investor and asset manager Cromwell Property Group (ASX: CMW), focusing on office, logistics and retail real estate assets across Europe.
Ethica has been working alongside the Marconi family for many years and has been continuously supporting the family in pursuing a refocusing strategy and subsequently divesting some of their assets. On this project, our team started by identifying and assessing the best strategic options for the family with a very focused pre-screening work, to avoid a crowded process which could also have exposed the asset on the market and interfered with customers relationships. In parallel, Ethica’s team supported the family in a detailed preparation work to make sure everything was ready to engage in discussions with potential counterparts. As a result of the “stealth mode” market scouting, Ethica identified Cromwell as the best possible option to ensure both business continuity and future development, also meeting the family’s interest in terms of value.