Oppeano Logistics Park, a prime logistics hub in Italy owned by a Patrizia fund, has been sold to Starwood Capital for €274m.

Global real estate advisor CBRE said it sold the logistics park in Verona on behalf of the Patrizia EuroLog Fund.

The Oppeano Logistics Park, built between 2019 and 2020, comprises five logistics warehouses of over 246,000sqm.

Vittorino De Stefano, the head of logistics investment properties in Italy at CBRE, said the record transaction confirms the investors’ appetite for a grade A product in locations with compelling fundamentals and high rental growth potential.

“Verona has established itself as a logistics hub of strategic importance in Europe, being situated in the northern Italian economic powerhouse with excellent connections to the rest of Europe,” De Stefano.

Simon Blake, chairman, EMEA industrial and logistics at CBRE said: “The sale of Oppeano Logistics Park is a prime example of CBRE’s collaborative approach, involving multiple teams throughout the lifecycle of the park.”

Blake said CBRE was the original buyside advisor in 2019 for Project Mercury, a Pan-European portfolio which the park was a part of, and also the leasing and build cost consultancy advisors and property managers for the park.

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