Allianz Real Estate has invested €110m to buy a portfolio of three new logistics assets in Italy.

Allianz said the assets in Lombardy were acquired through Investitori Logistic Fund (ILF), its Italian logistics fund managed by Investitori SGR, an Allianz company.

The latest deal is the fourth secured logistics deal in Italy in the past 18 months for Allianz and increases the manager’s Italian logistics portfolio’s assets under management to €275m.

Donato Saponara, head of transactions for west Europe and country head of Italy, Allianz Real Estate, said:

“This latest deal represents an excellent opportunity to purchase a grade A portfolio, well located at an attractive yield and capital value.

“Logistics as an asset class remains a key focus for Allianz Real Estate, having grown our global exposure in the sector to more than €7.5bn assets under management.”

Alexander Gebauer, CEO for west Europe, Allianz Real Estate, said: “We will continue to evaluate opportunities in different asset classes as diversification continues to play a fundamental role in our investment strategy.

“Looking forward, the logistics sector will very likely play a central role as we further expand in the Italian market, which continues to offer high-quality, prime assets on a select basis.”

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