Bain Capital and Stoneweg invest EUR 200 million in Italian assets

Bain Capital (a global private investment firm) and Stoneweg (an alternative investor specialising in Real Assets) announced, on behalf of their Italian logistics development jv, the purchase via forward purchase from VLD, a leading logistics developer in Italy, of a EUR 200 million portfolio consisting of six Grade A logistics warehouses spread over three locations, with a total of 225,000 sqm of commercial space.

The portfolio includes three developments: 45,000 square metres in the Florence metropolitan area (divided into two buildings currently under construction); 150,000 square metres in the southern area of Rome (a project divided into three big-box buildings, with delivery scheduled between the end of 2026 and 2028); and 33,000 square metres in the Bologna metropolitan area (a single asset with delivery scheduled by the first half of 2027). All assets aim at obtaining the Esg "Leed Gold" certification. These operations follow the jv's first investments in Bari and Tuscany, where two Leed Gold certified logistics projects totalling 110 thousand square metres have recently been completed.

'We observe,' said Rafael Coste Campos, partner at Bain Capital, 'solid demand, underpinned by structural issues such as e-commerce penetration andnearshoring, a reduced pipeline of modern Class A properties and increasing quality demands from tenants. All this contributes to low vacancy rates and increasing rents. Our European Class A logistics portfolio has reached a critical mass of USD 1.5 billion and we are aiming for further expansion. This investment represents a milestone in our strategy and further strengthens our long-term partnership with Stoneweg'.

"Italy's logistics sector," added Joaquin Castellvi, co-founder and head of strategic investments at Stoneweg, "continues to be characterised by vacancy rates of less than 5% and was one of the top performers in 2025, with investment up 121% year-on-year, confirming its defensive nature despite global economic uncertainty. Fuelled by demand in the renewable energy, luxury marine and e-commerce logistics sectors, and supported by a positive outlook for GDP and employment in Italy, we anticipate strong rental demand for these highly sustainable assets."