Real asset investment manager Aquila Capital has acquired a logistics site in Tortona, northern Italy, comprising a permit for a new industrial scheme.
Financial details were not disclosed.
The site was acquired through Green Logistics by Aquila Capital, the development division dedicated to Aquila Capital's logistics business in Europe.
On the 265,730 m2 plot, two warehouses have now been approved with an internal storage height of around 12 metres, comprising 155,403 m2 of space.
Dubbed Tortona I and Tortona II Green Logistics Park, the latest part of the project comprises an additional buildable area of 103,000 m2.
The park is situated in a strategic location in Tortona, Piedmont, with connections to Geneva, Milan and Turin.
The projects are being realised in accordance with strict sustainable criteria.
Rolf Zarnekow, head of investment management real estate at Aquila Capital said: 'This acquisition is a very important milestone for the company, as it extends our presence in the region, underlining our growth strategy in this market.
'This development is part of our commitment to sustainable and energy-efficient logistics investments as well as to our dedication to creating added value for all parties involved through our threefold strategy of sustainability, best rental terms and attractive investment opportunities for our investors.'
