Schroder Property Investment Managers said on Wednesday that one of its funds has signed a purchase agreement for a 65,000 m[sup]2[/sup] logistics site located in Santa Cristina, about 40 kilometres south of Milan.
Schroder Property Investment Managers said on Wednesday that one of its funds has signed a purchase agreement for a 65,000 m2 logistics site located in Santa Cristina, about 40 kilometres south of Milan.
Schroder Eurologistic Fund no 1 is to pay just over EUR 44mln for the facility, reflecting a gross initial yield of 6.8%. The property was built in 2005 and is 100% let to an Italian logistics company. Following this deal, Schroder's will have invested a total of EUR 350mln in the Italian logistics sector.
