Italian asset manager DeA Capital Real Estate has announced the acquisition of a logistics portfolio in Central and Northern Italy for a price of €268 mln.
The deal, the largest so far in the logistics property sector this year, was carried out on behalf of the Logita fund, which has now become the largest logistics property fund in the country with over €1 bn of assets under management.
Under the deal, the Logita investment fund for institutional investors has bought a portfolio of four logistics facilities in Castel S. Giovanni near Piacenza, Bentivoglio near Bologna and Colleferro near Rome.
The portfolio provides 264,000 m2 of gross lettable space and is entirely occupied. The vendor is the Italian arm of UK REIT Segro, known as Vailog.
Following the deal, Logita owns a portfolio of 30 fully let properties which generate a rental income of over €57 mln a year.
DeA Capital Real Estate SGR manages around €11.5 bn of assets through a total of 55 property funds.
