Global real estate investment manager LaSalle Investment Management has acquired Verona DC1, a fulfilment centre located in Verona, Italy, on behalf of Encore+, LaSalle’s flagship pan-European fund.
The asset was purchased from DeA Capital Real Estate, through Fondo Logita, on behalf of Segro European Logistics Partnership (SELP).
The e-commerce distribution hub was built in 2019 by Vailog, a Segro Group company, and comprises a lettable area of 128,000 m2 split across a ground floor area, mezzanine spaces and office and service areas.
The hub achieved a DGNB Platinum level certification, which recognises the environmental, economic, sociocultural, functional and technical quality of assets. Located in Verona, it benefits from excellent links to road networks connecting to France and Austria, as well as access to the European route E45, the longest north-south route in Europe.
The asset is leased to the Italian subsidiary of one of Europe’s leading online fashion retailers. As a major market player, the company has demonstrated sustained commitment to the centre by installing advanced automation and sortation systems at the site, alongside agreeing a long-term tenancy agreement.
David Ironside, fund manager for Encore+ at LaSalle, said: 'Verona DC1 further increases the exposure of Encore+ to the fast-growing European logistics market. The transaction comes at an opportune moment as we continue to enhance our portfolio by identifying strategic assets that sustain strong and stable returns for our investors.'
Francesco Coviello, head of transactions for Southern & Central Europe at LaSalle, added: 'This logistics asset is truly best-in-class, with outstanding ESG credentials in a market with compelling fundamentals.
'This latest addition to the portfolio comes off the back of recent successful acquisitions undertaken on behalf of Encore+ across continental Europe. We look forward to continuing to grow our exposure to exceptionally attractive logistics assets.'
LaSalle was advised on this transaction by K&L Gates (legal), Studio Pirola (tax), JLL (buy-side advisory) and SPI Italia (technical and sustainability advice).
SELP was advised by Apollo & Associati (legal), Nephos and CBRE (technical), CBRE (sell-side advisory) and KPMG (tax).
