CBRE Global Investors, on behalf of the CBRE European Industrial Fund (EIF), has acquired a logistics park in Verona, Italy from Italian developer Techbau.
Located in Nogara, 34km south of the A4 highway, the logistics park has recently been extended and now represents a total gross area of circa 66,000 m2.
'Nogara is a fantastic addition to the EIF portfolio. We have worked well with Techbau and are very pleased with the quality of both the renovation and the extension of this asset,' commented Pierre-David Baylac, fund manager for EIF, CBRE GI.
The asset is fully occupied by STI, a local logistics operator, who has managed the Coca-Cola logistics operations in Nogara since 1975.
'The Italian logistics market offers high quality logistic assets, which attract a wide group of institutional core investors. We are therefore very pleased that we have been able to source this attractive asset for EIF,' said Sandro Campora, managing director Italy, CBRE GI.
With the acquisition of Nogara, EIF now totals 1,236,000 m2 of logistics assets located in seven countries.
ìWe are actively looking to deploy further capital in Italy on behalf of clients across the risk spectrum,' concluded Campora.
