PATRIZIA has acquired a portfolio of two urban logistics assets in Italy for c. €50m, strengthening its footprint of high-quality last-mile industrial assets in key locations across continental Europe. The two assets are strategically located in the established submarkets on the outskirts of Rome and Bologna.
Acquired through PATRIZIA’s pan-European logistics strategy, PATRIZIA Logistik-Invest Europa III, the portfolio comprises nearly 36,800m2 of space that is 100% occupied by three major international tenants Fedex, Widem and Stellantis & You. The newly signed leases in the portfolio provide a resilient income profile and the opportunity to achieve future rental growth, supporting PATRIZIA’s strategy of driving high-yield income streams for its assets.
Built in 2021 and 2022 by specialist logistics developer Scannell Properties, the modern portfolio boasts high ESG standards, with both assets achieving EPC A ratings and BREEAM certifications. The properties are equipped with rooftop PV panels and have the potential to significantly expand the solar coverage, further supporting the decarbonisation strategy of the portfolio.
Pierluigi Scialanga, Head of Transactions in Italy for PATRIZIA, commented: “The persistent low supply of prime urban logistics assets in Italy’s key submarkets continues to offer a bright long-term outlook for its industrial sector. While the global market remains extremely challenging, our local approach combined with solid financial position and strong data intelligence ensures we are able to identify attractive opportunities for our investors and execute quickly when we are convinced of the quality of the deal. In line with our thematic, high-conviction strategy, we are focused on acquiring assets that minimise their impact on the environment, make a positive contribution to the community and drive ESG standards.”
Nicolai Soltau, Head of Fund Management Logistics DACH, said: “This acquisition delivers excellent diversification benefits for our fund by expanding its footprint in prime markets across continental Europe. The investment perfectly aligns with our strategy to acquire high-performing assets providing both a strong income profile alongside attractive value-add opportunities for driving future growth. We are excited to build on the already strong ESG credentials of the portfolio and invest in further sustainable initiatives over the coming years to accelerate the decarbonisation of the fund.”
PATRIZIA was advised by Simmons and Simmons (legal), Pirola (tax), JLL (technical), CBRE (commercial) and CF+ (VAT).
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