Starwood Capital Group has acquired Oppeano Logistics Park, a prime logistics hub approximately 15km south of Verona, Italy, from Patrizia.
Patrizia has exited the asset on behalf of EuroLog Fund, and was advised by CBRE.
It is a new record sale in the Italian logistics market.
Simon Blake, Chairman EMEA Industrial & Logistics at CBRE, said: ‘We were the original buyside advisor in 2019 for Project Mercury, a Pan-European portfolio which the park was a part of, and also the leasing and build cost consultancy advisors and property managers for the park.’
The Oppeano Logistics Park represents five logistics warehouses over 246,000 m2.
The park, built between 2019 and 2020, is 87% occupied. It is home to national and international occupiers such as Aldi, Rewe, Bracchi and Trans Lusia, with a weighted average lease length to the first break option of just under four years.
