Logistis acquired the 127,100-square metre site from third-party logistics operator DSV. The asset is now leased entirely to DSV.
Located in San Pietro Mosezzo, 60km west of Milan, the logistics campus is located close to the A4 motorway that links Turin and Milan, and easily accessible from both Milan Malpensa Airport and the port of Genova.
The sale and leaseback brings Logistis’s presence in Italy to around 330,000 square metres in assets under management. It also strengthens the fund’s existing relationship with DSV.
Logistis completed a €400 million capital raise in July 2016, meaning it had a combined investment volume for 2015 and 2016 of €1.5 billion.
According to Rémy Vertupier, fund manager of Logistis, this most recent transaction means the fund has completed 70 percent of its investment programme.
Vertupier said: “We will now look to build on this success, and on AEW’s long-running track record in the logistics sector, by continuing to source compelling investment opportunities for the fund.”
“To this end, we have identified a number of potential opportunities in Italy and across Europe more broadly, and we should make further announcements in the near term.”