All Investment management and UK-based pension fund Morley have acquired a logistics centre in Magenta near Milan. The deal marks the first acquisition of the Encore+ fund in Italy. The purchase price comes to approximately EUR 31.5 mln for the first building phase of the development.

All Investment management and UK-based pension fund Morley have acquired a logistics centre in Magenta near Milan. The deal marks the first acquisition of the Encore+ fund in Italy. The purchase price comes to approximately EUR 31.5 mln for the first building phase of the development.

The property comprises approximately 34,000 m² of rentable surface area with an extension option for another 11,000 m². Completion is scheduled for the end of August 2007.