Hines has reached a binding agreement for an off-market investment to acquire 20 logistics assets located between Emilia Romagna and Lombardy through the Italian fund HEVF II Italy managed by Prelios SGR on behalf of the Hines European Value Fund 2 (HEVF 2). The transaction involves the acquisition of the real estate portfolio from four different selling companies and the simultaneous 15-year lease of the same portfolio to Snatt Logistica Group, a leader in the third-party logistics (3PL) sector focusing exclusively on the fashion industry. The portfolio of 20 logistics assets provides a total of 200,000m² of logistics space around Milan, Parma, Reggio Emilia, and Bologna. They are strategic, well-established logistic centres that enjoy effective, rapid connections with Italy’s main cities and the rest of Europe.
“We are pleased to start 2022 with an important investment in the logistics sector that consolidates our presence in the main intersections in Northern Italy. At Hines, we believe in the potential of the logistics sector in Italy and have set an investment target of around €1bn in 2022,” commented Mario Abbadessa, senior managing director & country head of Hines Italy. “We are proud to collaborate with Snatt Logistica Group, which is an international 3PL logistics leader in the luxury fashion industry, and we are certain that we will be able to develop a shared path for growth, guided by common values, including ESG, which is key to our DNA.”
Paul White, senior managing director and fund manager for HEVF 2 at Hines, said: “This is an attractive portfolio of assets with a strong, innovative tenant at the forefront of Italy’s fast-growing third-party logistics sector for the fashion industry. We believe that e-commerce will continue to drive long-term demand for high-quality logistics facilities in Italy’s northern cities, pushing the value of these investments forwards, while there is also a significant opportunity to enhance the sustainability performance of existing assets here. This is aligned with our ESG objectives as recognised by GRESB, with HEVF 2 achieving the award of Overall Global Sector Leader in the Diversified Office/Retail category for sustainability performance in 2021.”
