Prologis' Targeted Europe Logistics Fund (PTELF) has acquired two buildings totalling 25,100 m2 in Rome from real estate company SiDi.
Financial details were not disclosed.
The buildings are in the Tiburtina area, near the Grande Raccordo Anulare metropolitan ringroad. The current tenants, Protezione Civile, the Civil Protection department and SGT Corriere Espresso, one of the leading Italian express courier services, will continue to operate from the facilities.
The acquisition increases the size of Prologis’ portfolio in Rome to seven buildings totalling 130,000 m2.
Sandro Innocenti, senior vice president and country manager at Prologis Italy, said, 'This accretive investment represents our second acquisition in Rome over the last nine months and is consistent with our strategy of acquiring core assets in long-term global markets.'
Prologis was assisted by DLA Piper and Sedna Real Estate.
Prologis owns and manages 1.01 million m2 of distribution space in Italy.
