PATRIZIA, through its PATRIZIA Logistik-Invest Europa III fund, has acquired a portfolio of two urban logistics assets in Italy’s established industrial submarkets outside Rome and Bologna
The portfolio has a 100% occupancy rate with major international tenants providing resilient income and future strong rental growth
The newly built assets have been developed to high ESG standards, with EPC A ratings, BREEAM certifications and rooftop PV panels
Investment further strengthens PATRIZIA’s EUR 7 billion pan-European logistics platform
Augsburg, Milan, 18 December 2023. PATRIZIA, a leading partner for global real assets, has acquired a portfolio of two urban logistics assets in Italy for around EUR 50 million, strengthening its footprint of high-quality last-mile industrial assets in key locations across continental Europe. The two assets are strategically located in the established submarkets on the outskirts of Rome and Bologna.
Acquired through PATRIZIA’s pan-European logistics strategy, PATRIZIA Logistik-Invest Europa III, the portfolio comprises nearly 36,800 sq. m. of space that is 100% occupied by three major international tenants Fedex, Widem and Stellantis &You. The newly signed leases in the portfolio provide a resilient income profile and the opportunity to achieve future rental growth, supporting PATRIZIA’s strategy of driving high-yield income streams for its assets.
Built in 2021 and 2022 by specialist logistics developer Scannell Properties, the modern portfolio boasts high ESG standards, with both assets achieving EPC A ratings and BREEAM certifications. The properties are equipped with rooftop PV panels and have the potential to significantly expand the solar coverage, further supporting the decarbonisation strategy of the portfolio.
Pierluigi Scialanga, Head of Transactions in Italy for PATRIZIA, comments: “The persistent low supply of prime urban logistics assets in Italy’s key submarkets continues to offer a bright long-term outlook for its industrial sector. While the global market remains extremely challenging, our local approach combined with solid financial position and strong data intelligence ensures we are able to identify attractive opportunities for our investors and execute quickly when we are convinced of the quality of the deal. In line with our thematic, high-conviction strategy, we are focused on acquiring assets that minimise their impact on the environment, make a positive contribution to the community and drive ESG standards.”
Nicolai Soltau, Head of Fund Management Logistics DACH, said: “This acquisition delivers excellent diversification benefits for our fund by expanding its footprint in prime markets across continental Europe. The investment perfectly aligns with our strategy to acquire high performing assets providing both a strong income profile alongside attractive value-add opportunities for driving future growth. We are excited to build on the already strong ESG credentials of the portfolio and invest in further sustainable initiatives over the coming years to accelerate the decarbonisation of the fund.”
The acquisition of the Italian portfolio is the second significant logistics investment PATRIZIA has closed in Italy in 2023 after the acquisition of the 80,000 sq. m. Piacenza Business Park. Earlier this year, the company also launched a EUR 300 million Nordics logistics platform with the acquisition of a portfolio of 10 last mile industrial assets in Sweden. Together, the investments further strengthen PATRIZIA’s EUR 7 billion pan-European logistics platform that is manages for its global institutional clients.
PATRIZIA was advised by Simmons and Simmons (legal), Pirola (tax), JLL (technical), CBRE (commercial) and CF+ (VAT).
PATRIZIA: A leading partner for global real assets
With operations around the world, PATRIZIA has been offering investment opportunities in real estate and infrastructure assets for institutional, semi-professional and private investors for 39 years. PATRIZIA manages approx. EUR 58 billion in assets and employs around 1,000 professionals at 28 locations worldwide. PATRIZIA has been making an impact since 1984 by helping children in need, since 1992 in close collaboration with Bunter Kreis (“colourful circle”) in Germany for aftercare of children with severe diseases and since 1999 through its support for the PATRIZIA Foundation. The PATRIZIA Foundation has given more than 600.000 children and young people worldwide access to education, healthcare, and a safe home to get the chance to live a better self-determined life over the last 24 years. You can find further information at www.patrizia.ag and www.patrizia.foundation
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