Hines is focusing on logistics and has acquired two properties for 180 million

Hines has finalised a new deal in Italia. The US giant, with $91 billion in assets under management worldwide, has acquired two logistics properties in Lombardy and Piedmont: two transactions carried out through the Hines European Core Fund and Hines European Real Estate Partners III. According to market estimates, the investment is expected to total €180 million for a total of 213,000 square metres of logistics space .

Specifically, the first fund has acquired – through an off-market transaction as part of its core strategy – a logistics complex of approximately 19,000 square metres in San Giuliano Milanese, just eight kilometres from the centre of Milan and characterised by excellent transport links. This is the fourth logistics acquisition in Italia for the fund, which further consolidates the portfolio’s presence in the Milan area, one of the country’s main logistics markets, characterised by limited supply and solid demand from operators.

As for the second fund, Hines has instead signed a conditional agreement for the future acquisition of a Grade A logistics park of approximately 194,000 square metres in Pozzolo Formigaro, in Piedmont. The complex, comprising four buildings, will be delivered in three phases by 2028: approximately 110,000 square metres have already been committed to, whilst a further 80,000 square metres are subject to certain conditions being met. Situated along one of northern Italia’s main logistics corridors, the park is strategically positioned to also capture demand from the Tortona market, which is nearing saturation and characterised by limited land availability for new developments.

According to Raoul Ravara, senior managing director and , ‘San Giuliano Milanese adds a strategic location in the Milan area to the Italian portfolio, whilst Pozzolo is set to become a new institutional-grade logistics park, capable of serving the main trade corridors of Northern Italy’. Taken together – according to the manager – “the two transactions demonstrate how Hines’ local expertise and established relationships continue to generate opportunities for the group and for investors in Italia”.

The two transactions highlight the investment, property management and development company’s interest in the Italian market and the opportunities it offers within the context of core strategies and value-add strategies. “Italia continues to represent a strategic market for Hines, and these investments confirm our confidence in the market’s long-term growth potential,” explained Alfonso Munk, the group’s global co-head of investment management. These transactions fully reflect this approach and confirm our commitment to Italia, where we intend to continue investing in sectors where we see the greatest opportunities for growth and value creation, including industrial and logistics, digital infrastructure, residential and prime office properties.”