Allianz Real Estate has completed the acquisition of a logistics hub in Northern Italy for an undisclosed amount.
The 55,000-m2 asset, located 10 km north of the city of Parma, has been acquired on behalf of several Allianz companies.
The acquisition is part of Allianz’ strategy to invest in Italy’s fast growing logistics sector.
Developed by local builder Mingori, the asset is currently occupied by Ferrero, the biggest chocolate producer and confectionery company in the world.
'The acquisition of this asset represents a key strategic milestone in our ambition to create a large logistics platform in the region,' said Donato Saponara, country head of Allianz Real Estate, Italy. 'We hope to build a significant footprint in this fast-growing asset class as part of the continued diversification of our Western European portfolio.'
