Prologis European Property Fund II (PEPF II) has acquired two buildings totalling 52,600 m2 in Italy.
Prologis European Property Fund II (PEPF II) has acquired two buildings totalling 52,600 m2 in Italy.
The buildings are located in Fiano Romano, 40 kilometres from Rome and near the A1 motorway, which leads to the Grande Raccordo Anulare. The vendor was Borgosesia Gestioni and the investment volume was not disclosed.
The acquisition increases the size of Prologis’ portfolio in the Rome area to five buildings. The Fiano Romano facilities were built in 2004 and 2005 and were developed as modern distribution warehousing. They are currently occupied by two suppliers of logistics services that work respectively in large-scale retail trade and in pharmaceutical logistics.
'The Rome area is an interesting market, as it offers positive opportunities for development,' said Sandro Innocenti, senior vice president, country manager, Prologis Italy. 'Fiano Romano is the best logistics platform north of Rome and in particular has attracted customers working in pharmaceutical, food and retail logistics services. This acquisition aligns with Prologis’ development strategy and places the company as a key player in this area.'
Prologis owns and manages 966,000 m2 of distribution space in Italy as of end-December 2015. Its logistics parks are located in the Milan area (Paullo, Lodi, Novara, Piacenza, Castel San Giovanni, Cornaredo, Arena Po, Cortemaggiore), Pavia (Siziano), Turin (Trofarello, Settimo Torinese), Bologna (Interporto, Castel San Pietro), Padua and Rome.
