DIE Italy SICAF S.p.A. managed by IQ EQ Fund Management Limited for Deka Immobilien Investment GmbH has sold a logistics portfolio from the real estate assets of the Deka-ImmobilienEuropa open-ended property fund. The buyer is an international investor. The parties have agreed not to disclose the sale price.
The logistics buildings are located in Castel San Giovanni, approximately 25km west of Piacenza and 70km south of Milan, and have excellent motorway access. They comprise a leasable area spanning around 165,000m2, which is largely occupied by major international 3PLs players. The fund acquired the newly built distribution facilities in 2004 and 2011 respectively. They have been rated "Very Good" by BREEAM-In-Use, the British certification for sustainable construction.
With this transaction, the fund management team is exploiting the high demand for logistics real estate and realising sale proceeds for the investors.
Image source - Pexels.
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