Aew completes new asset in Pavia for Logistis

Aew (one of the world's largest real estate investment and asset managers) announces the completion of a prime Class A logistics development of 92,000 sqm in total south of Milan in the municipality of Bascapè (Pavia), acquired off-market in 2021 on behalf of Logistis, its pan-European real estate investment fund specialising in logistics .

The project was developed in two phases of 68,000 m2 and 24,000 m2 respectively. The asset consists of six units spread over two buildings designed to high standards and aiming to achieve Breeam New Construction "Excellent" certification. The roof of the main building is equipped with photovoltaic panels dedicated to the tenant's energy consumption. The project is fully leased to 'Il Gigante', a large retail company in Italy, on a 12-year lease.

The area on which the asset is located is one of Italy's main logistical hubs, 25 km from the centre of Lombardy's capital city and with direct access to the SP2 which leads quickly to Milan's ring road and the A1 motorway.

Logistis invests in more than 4.6 million sqm of logistics areas across Europe, of which 520,000 sqm in Italy. Aew continues to grow and diversify its presence in the main European logistics hubs, implementing a develop-to-core strategy focused on strategic geographic areas and assets, from large multimodal logistics parks to urban logistics platforms .

"Thanks to this transaction," said Ludovic Bernini, fund manager of Aew, "Logistis achieves an important logistics development in Italy, in line with the fund's strategy of investing indevelop-to-core opportunities located in strategic areas. Logistis has an established presence in Italy, where it has been investing for over 20 years, and this acquisition further increases our presence in Southern Europe. This project has also allowed us to work again with E2K, our local development partner, to create a modern and sustainable space that meets the tenant's requirements'.