CBRE acquires logistics park in Italy
CBRE Global Investors, on behalf of the CBRE European Industrial Fund (EIF) has acquired a logistics park in Nogara, Verona, Italy. The dealer was Techbau S.p.A., a well-known Italian developer with a strong track record in logistics.
The logistics park has recently been extended and now boasts a total gross area of circa 66,000 sq m. The property is located in the northeast of Italy in Nogara, 34km south of the A4 highway. It is fully occupied by STI, a local logistics operator, who has managed the Coca-Cola logistics operations in Nogara since 1975.
Pierre-David Baylac, fund manager for EIF, CBRE Global Investors, said: “Nogara is a fantastic addition to the EIF portfolio. We have worked well with Techbau and are very pleased with the quality of both the renovation and the extension of this asset.”
Sandro Campora, managing director Italy, CBRE Global Investors commented: “The Italian logistics market offers high quality logistic assets, which attract a wide group of institutional core investors. We are therefore very pleased that we have been able to source this attractive asset for EIF. We are actively looking to deploy further capital in Italy on behalf of clients across the risk spectrum.”
With the acquisition of Nogara, EIF now totals 1,236,000 sq m of high quality logistics assets located in seven countries.