Global investment giant Patrizia has acquired a modern industrial portfolio in Italy’s golden triangle sub-market for €70 mln through its Patrizia Logistik-Invest Europa Fund series.
The two assets are located on the A22 highway between Verona and Bologna, one of the country’s major distribution corridors.
Comprising over 90,000 m2 of space, the portfolio is 100% occupied by two international 3PL tenants.
Built in 2022 and 2023, the modern portfolio boasts high ESG standards compliant with the Paris Climate Agreement, with both assets achieving EPC A ratings and LEED Gold certifications.
The properties are equipped with rainwater collection technology, LED lighting and rooftop PV panels, while a planned capex programme to instal additional PV panels will further support the decarbonisation strategy of the portfolio.
Pierluigi Scialanga, country manager and head of transactions for Italy at Patrizia, said: 'With vacancy rates close to zero in certain sub-markets and a persistent undersupply of new assets, the underlying characteristics of Italy’s industrial sector remain robust.
'As we begin a new market cycle with prolonged global volatility, deploying capital into highly attractive sectors is our key focus as we drive long-term value for clients.
'With now over €1.5 bn in assets under management, our expanding Italian alternative assets platform continues to deliver significant opportunities for our investors across the risk spectrum in both real estate and infrastructure.'
Nicolai Soltau, head of fund management logistics at Patrizia, said: 'We are pleased to continue our investment programme into best-in-class, sustainable logistics which support rapidly urbanising and digitalising cities across key European markets.
'Growing our exposure in Italy is an important part of our strategy as it further diversifies our geographical footprint, while at the same time delivering strong income that also has value-add growth potential through asset management and ESG initiatives.
'With this portfolio already compliant with the Paris Climate Agreement, we are excited to further build on the already strong ESG credentials of our European logistics platform.'
This acquisition marks the latest deal in a series of major real asset investments that Patrizia has made in Italy over the last 12 months.
Last year the group invested around €50 mln in a portfolio of two assets in the established sub-markets outside Rome and Bologna, while it also closed the acquisition of the 80,000 m2 Piacenza Business Park.
The group strengthened its infrastructure portfolio with its investment in Atlantico to consolidate its Italian smart streetlighting business.
It also grew its bio-LNG/biogas platform Renergia with a recent bolt-on acquisition in the Agrimet subsidiary and expanded its pan-European circular economy platform with an investment in leading independent Italian waste management group Greenthesis.
Patrizia was advised by Legance (legal), Simmons&Simmons (financing), DLA (structuring), Pirola (tax), Dils (commercial) and JLL (technical).
