PATRIZIA acquires cold storage logistics asset near Milan

PATRIZIA AG has acquired a newly built cold storage logistics asset near Milan, Italy, through one of its flagship logistics funds.

  • Asset provides c. 31,000 sq m of high-quality space
  • Fully let to tenants in the 3rd party logistics and distribution sectors with a WALT of 7.5 years
  • Assets located close to A7 motorway between Milan and Pavia in northern Italy
  • PATRIZIA’s logistics AUM totals over EUR 6 billion with plans to grow PATRIZIA’s footprint in Italy further

Augsburg / Milan, 24 January 2022.PATRIZIA AG, a leading partner for global real assets, has acquired a newly built cold storage logistics asset near Milan, Italy, from Savills Investment Management SGR S.p.A., on behalf of its institutional clients through one of its flagship logistics funds.

The c. 31,000 sq m cold storage asset was completed in Q2 2021 and is fully let to Kühne & Nagel, a leading pan-European 3rd party logistics company, and Movi.Log Srl, a frozen food distributor, with a WALT of 7.5 years. The property has been built to a high specification with sprinklers, elevations and ample refrigeration space that has a temperature range between 4°C and -28 °C. Sustainability was a key consideration during its development. The asset includes two photovoltaic plants for a total power capacity of 2.5MW and is targeting a BREEAM rating.

The property is located in Casorate Primo, a municipality in Lombardy between the cities of Milan and Pavia, a prime industrial and logistics location in northern Italy. It benefits from excellent transport connectivity via the nearby A7 motorway which connects Milan with Genoa and enables access to France and Switzerland.

Pierluigi Scialanga, Head of Transactions at PATRIZIA Italy, commented: “The property is well located and has excellent sustainability credentials, while lettings to tenants with strong covenants will deliver long term reliable returns. Our Italian AUM has grown significantly in recent years to now over EUR 1 billion with plans to grow further. Logistics is a strategic sector for PATRIZIA Italy. We have so far invested EUR 400 million in logistics and have a pipeline of a further EUR 160 million of logistics transactions which we are completing.”

Rob Brook, Head of Alternative Investments and Head of Logistics at PATRIZIA, added: “Cold chain is an exciting area of logistics for PATRIZIA to be involved in. Demand is predicted to grow steadily in the next few years, especially due to a growing need for reliable supply chains for biopharmaceuticals, vaccines and clinical trials. High demand across Europe combined with low vacancy rates makes cold chain logistics an ideal growth area for the future.”

Since the end of 2019, the AUM of PATRIZIA’s logistics segment has grown to over EUR 6 billion. The strength of logistics assets is underpinned by strong occupier demand and extremely low vacancy rates across Europe, and its yields have consistently outperformed those by other asset classes in recent years.

With this transaction, PATRIZIA further strengthens its presence in the logistics segment in Italy, in which it already has assets with a total area of more than 730,000 sq m throughout the country.

As a whole, the logistics segment represents around 45% of the assets that PATRIZIA manages in Italy, with a total value of nearly EUR 1 billion.


PATRIZIA: A leading partner for global real assets

As a company 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 37 years. PATRIZIA manages more than EUR 48 billion in assets and employs over 800 professionals at 24 locations worldwide. PATRIZIA has been impact investing since 1984. Since its inception and through the PATRIZIA Foundation, PATRIZIA is committed to social responsibility. The Foundation has helped over 250,000 children in need worldwide gain access to education and thus, has given them the chance of a better life over the last 21 years. You can find further information at

Greg Morsbach
Corporate Communications
Phone: +44 7889 995604