Tuesday, 24 February 2015
Prologis acquires 122,000 m² in Italy (IT)
Prologis, Inc., the global leader in industrial real estate, today announced that Prologis European Properties Fund II ("PEPF II") has acquired a portfolio of logistics facilities totaling approximately 122,000 m² in Italy.
The portfolio comprises 11 logistics facilities at Interporto Bologna, one of the largest intermodal logistics locations in Europe.
“This acquisition expands our presence in the Interporto Bologna area, a location of prime importance for logistics and transport in Italy,” said Sandro Innocenti, vice president, country manager, Prologis Italy. “The assets will benefit from the management and expertise of Prologis’ experienced local team, helping to unlock value in the future.”
The acquisition makes Prologis the largest single owner and manager of property within Interporto, with 40% of the total floor space. The company’s facilities feed a combined 4.6 megawatts of power via solar photovoltaic systems.
“This acquisition enables PEPF II to deploy capital in a market with strong demand and where the fund seeks to increase its presence,” said Simon Nelson, senior vice president, Prologis Fund Management. “This was an opportunity to purchase, at a significant discount, high-quality assets that complement PEPF II's existing portfolio.”
Interporto Bologna is north of Bologna near the municipalities of Bentivoglio and San Giorgio in Piano. It is two kilometres from the A13, which connects Bologna and Padua. It benefits from proximity to national and European cargo transport routes.
Prologis was advised by a DLA Piper’s multidisciplinary team, which was coordinated by real estate partner Francesco De Blasio.
Prologis owns and manages approximately 820,000 m² of distribution space in Italy as of December 31, 2014. Prologis logistics parks are located in the Milan area (Paullo, Lodi, Novara, Piacenza, Castel San Giovanni, Cornaredo, Arena Po, Cortemaggiore), Pavia (Siziano), Turin (Trofarello, Settimo Torinese), Bologna (Interporto, Castel San Pietro), Padua and Rome.