Aew acquires a grade A logistics asset in north-east Milan

Aew has acquired off-market from Dws a grade A logistics asset of approximately 55,000 sqm, fully leased and located in North-East Milan, in a strategic position for logistics services in Northern Italy. The acquisition was made on behalf of a French institutional investor.

The construction of this prime asset was completed in 2018 for Arcese, one of the largest logistics companies globally and an industry leader in Italy. Arcese, which operates in 100 locations worldwide, fully occupies the property and uses it as its main European hub, with a weighted average lease term of around 23 years. Built to high technical standards, the asset is Breeam 'Good In-Use' certified. Located in Basiano, the building is located in a marketprimefor logistics, 20 km from Milan, and has direct access to the A4 motorway, the main road axis for freight transport in northern Italy, which also connects to European transport corridors. In addition, the site is part of a larger industrial zone dedicated to manufacturing and commercial activities.

"The acquisition of this prime grade A logistics asset," said Massimiliano Bernes, country head Italy at Aew, "aims to diversify the real estate portfolio by adding a strategic asset in an excellent location for logistics services in northern Italy. The Italian logistics market continues to be an attractive sector for investment, has stabilised after significant re-pricing over the past 24 months and has solid fundamentals. Aew manages a logistics portfolio in Italy of about 450,000 sqm, which is growing steadily.

"The sale of the Basiano asset reaffirms our ability to identify high-potential opportunities and create value through modern, sustainable properties that fully meet the needs of leading operators," added Giuseppe Colombo,head of real estate Italy at Dws.
"We are proud to have accompanied this asset from the development phase to its valorisation," concluded Federico Palmieri, head of transaction real estate Italy at Dws.