German asset manager Sireo has acquired a logistics centre in Italy worth some EUR 31 mln from a private investor. The property, located in Paullo, near Milan, is fully leased to Number One Logistics, the logistics division of Italy's major food company Barilla. The logistics scheme was developed in 2003 and consists of about 40,000 m[sup]2[/sup] of space. Sireo was advised by Italian property consultant GVA Redilco.
German asset manager Sireo has acquired a logistics centre in Italy worth some EUR 31 mln from a private investor. The property, located in Paullo, near Milan, is fully leased to Number One Logistics, the logistics division of Italy's major food company Barilla. The logistics scheme was developed in 2003 and consists of about 40,000 m2 of space. Sireo was advised by Italian property consultant GVA Redilco.
'This is the fourth transaction completed on behalf of Sireo in one year time', said GVA Redilco's Paolo Remondini. Redilco was nominated exclusive advisor in Italy for the Luxembourg-based investment fund Sireo Immobilienfonds no. 4 in 2005. 'In two years' time we have managed on behalf of Sireo a real estate portfolio of more than EUR 110 mln', he added.
