Deka Immobilien GmbH has acquired a logistics property in Italy for around 37 million. The property will be included in the Deka-ImmobilienEuropa open-ended mutual property fund.
Project development company Vailog s.r.l. is the seller. The building is situated in the Castel San Giovanni logistics park, west of Piacenza on the A21 motorway. It is currently under construction and final completion of the building work is scheduled for December 2011.
The logistics warehouse will provide total lettable floor space of approximately 64,000 m² and is fully let to two established logistics companies. A photovoltaic company has leased the roof area.
Furthermore, the property boasts 173 car parking spaces and 95 spaces for lorries. A station provides direct access to trains from the park and a separate slip road links the park to the A21 motorway.
This acquisition enhances Deka Immobilien's portfolio of environmentally sustainable properties. The aim is to obtain BREEAM certification with a rating of Very Good for the building.