Aquila Capital has marked its entry into the Italian real estate market with the development of a 104,000sqm sustainable logistics space near Milan.

The development is the alternative investment manager’s third major project in Southern Europe and following the development of over 500,000sqm of logistics space in Spain and 115,000sqm in Portugal.

In total, Aquila is currently developing green logistics areas of around 720,000sqm in Southern Europe.

Rolf Zarnekow, head of real estate at Aquila Capital, said in addition to Aquila’s current developments in Spain and Portugal, “we are now also entering the Italian real estate market with the project in Tortona”.

“The increasing demand for high-quality logistics properties in Southern Europe and this excellent established logistics location in the northwest of Italy form an attractive investment prospect for our institutional investors.”

Roman Rosslenbroich, co-founder and CEO of Aquila Capital, said: “The location fits perfectly into our Southern European investment strategy.

“We are proud to be able to fully implement our extensive standards for sustainable real estate assets in this project, as well as creating significant benefits for the region and future tenants.”