GLP has acquired 10 core logistics real estate assets located in Northern Italy for an undisclosed sum.

The global investment manager said the acquisition of the 230,000sqm portfolio represents its second acquisition in the country in 2021.

The majority are located in the Milan region, with the rest situated in Verona, Turin and Parma.

Roberto Piterà, country director of GLP Italy, said this transaction significantly expands GLP’s presence, effectively doubling the firm’s Italian portfolio and further improving its quality.

“I am particularly pleased that GLP was able to acquire these properties among a number of high-quality bids. This acquisition, which places us into the top 5 of owners of logistics properties in Italy, will allow us to better serve our existing customers while adding new companies to our growing customer community.”

In March, GLP bought a 200,000sqm portfolio in Italy for Europe Income Partners II (GLP EIP II), a logistics fund with €1.6bn in total equity commitments.  

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