Logicor - the largest owner of modern logistics facilities in Europe - has announced the acquisition of 19 assets in Italy and Belgium. These acquisitions are spread across the following transactions:
Italy: portfolio of four assets near Milan totalling 175,000m² acquired from a local developer. Key occupiers include European logistics providers Geodis and Kuehne + Nagel.
Italy: portfolio of six assets totalling 275,000m² acquired from Schroders and Investire Immobiliare. Located in Italy’s key logistics submarkets, with four assets along the main corridor serving Milan and two assets adjacent to Rome’s international airport. Key occupiers include global logistics providers Ceva, XPO Logistics and Kuehne + Nagel, along with French multinational Saint-Gobain.
Belgium: portfolio of nine assets totalling 156,000m² acquired from AXA REIM, with two assets located opposite Brussel’s airport, one asset in the core logistics market of Willebroek, and the remaining assets in Meer, a logistics cluster at the Belgium/ Netherlands border. Key occupiers include aerospace component manufacturer ASCO Industries and pet nutrition company Hill’s.
These acquisitions have increased Logicor’s Italian logistics portfolio to 924,000m² and it’s Benelux portfolio to 500,000m².
Cushman & Wakefield advised Blackstone and Logicor on all three transactions.
