An Italian value-add logistics partnership between Bain Capital and Stoneweg is acquiring a €200m portfolio of six logistics warehouses through a forward-purchase deal with developer VLD.
Bain Capital and Stoneweg have agreed to acquire the 225,000sqm portfolio of six warehouses located in three locations. The assets include a 45,000sqm, two-building development under construction in Greater Florence, a 150,000sqm, three-building big-box scheme in Southern Rome expected between late 2026 and 2028, and a 33,000sqm property in Greater Bologna slated for delivery by the first half of 2027.
Rafael Coste Campos, partner at Bain Capital, said: “We maintain a positive outlook on European logistics and, across the locations where we are present, are well positioned to benefit from the current market tailwinds. We see a solid demand outlook, fostered by secular themes of e-commerce penetration and nearshoring, a reduced pipeline of modern, grade-A product, whilst witnessing increasing quality requirements from tenants. All this is contributing to contained vacancy and growing rents.
“Our European grade-A logistics portfolio has reached a critical mass of $1.5bn gross development value today, and we are looking to expand further. This investment marks a significant milestone in our strategy and further strengthens our long-term partnership with Stoneweg.”
Joaquin Castellvi, co-founder and head of strategic investments at Stoneweg, said: “The Italian logistics sector continues to be characterised by sub-5% vacancy levels and has been a top performer in 2025, with investment activity up 121% year on year, underlining the sector’s defensive characteristics despite the uncertain global economic backdrop.
“Driven by demand from the renewable energy, luxury maritime and e-commerce logistics segments, and supported by Italy’s favourable GDP and employment outlook, we anticipate strong occupier demand for these highly sustainable assets.
“Alongside Bain Capital, and leveraging the strength of our local teams, as well as the opportunities being presented by current market dislocation, we have the ambition and near-term pipeline to significantly scale the platform.”
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