Global logistics space provider Prologis has acquired a 40,000 m2 logistics facility near Milan from Sireo Immobilienfonds No. 4.
Global logistics space provider Prologis has acquired a 40,000 m2 logistics facility near Milan from Sireo Immobilienfonds No. 4.
Financial details were not disclosed.
The facility is located in Paullo in the eastern section of the province of Milan and was acquired for Prologis European Properties Fund II (PEPF II). The surrounding area is undergoing significant infrastructure development and offers excellent connections to main national routes, the company said.
'The acquisition of the Paullo facility is part of Prologis’ focus on building presence in core, long-term markets and marks our first acquisition in Italy for several years,' said Sandro Innocenti, country manager for Prologis Italy.
Prologis owns and manages around 780,000 m2 of distribution space in Italy as of end-June 2014.
