ING Real Estate has successfully completed the purchase of three warehouses in the Milano Logistic Centre from Polis Fondi SGR, the management company representing the Polis Fund, an Italian listed real estate vehicle. The value of the transaction was approximately €40 million.
The transaction involves three independent logistic warehouses called America, Europa and Oceania which were constructed in 2001 and 2002, totaling a gross area of 50,354 sqm.
The Milano Logistic Centre totals 120,000 sqm of state of the art logistic real estate and is strategically located at a close distance from Milan and the major roads serving the north (and south) of Italy.
Read more detailed information in the attached press release.
Source: ING Real Estate