Patrizia has invested around €50m to acquire a portfolio of two urban logistics assets in Italy for one of its European logistics funds.
The fully let 36,800sqm portfolio, located on the outskirts of Rome and Bologna, has been acquired for the Patrizia Logistik-Invest Europa III fund, the manager said.
The assets were built in 2021 and 2022 by Scannell Properties.
Pierluigi Scialanga, the head of Patrizia’s transactions in Italy, said: “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 DACH logistics fund management at Patrizia, 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.”
To read the latest IPE Real Assets magazine click here.