Allianz Real Estate has completed the acquisition of a logistics hub in Northern Italy. The 55,000 sqm asset, located 10km north of the city of Parma and a key part of Italy’s logistics corridor, has been acquired on behalf of several Allianz companies. The acquisition is part of Allianz’ strategic priority to invest in Italy’s fast growing logistics sector.
The asset is currently occupied by Ferrero, the biggest chocolate producer and confectionery company in the world.
“Northern Italy represents one of the main locations for logistics infrastructure,” said Donato Saponara, Country Head of Allianz Real Estate, Italy. “As a result, the market has evolved considerably over the last decade with demand for high-quality logistics space increasing over the period, supported by strong fundamentals.”
“The acquisition of this asset represents a key strategic milestone in our ambition to create a large logistics platform in the region. We hope to build a significant footprint in this fast-growing asset class as part of the continued diversification of our Western European portfolio.”
Source : Company