Located in Monticelli d’Ongina, the logistics facility includes an area of 248,710ft², of which 223,070ft² is warehouse space and 25,620ft² is office space with three floors.
The acquired logistics facility has been leased to SDA Poste Italiane. In late 2016, TH Real Estate launched its logistics strategy to offer an investment chance for the clients in Germany. The firm intends to increase its portfolio in countries such as Italy, France, Spain and the Netherlands, which have an increasing demand for logistics facilities. The existing investors include pension funds, insurance firms and banks.
TH Real Estate fund manager Tim Hennes said: "The success of this first acquisition in Italy demonstrates the wide appeal of our strategy, offering investors an exclusive opportunity to make timely investments in highquality core logistics assets in established European locations.
“The Italian real estate market is increasingly attractive. We have therefore created a local investment structure, which enables this strategy to invest efficiently in Italy going forward whilst at the same time aiming to optimise investment returns for our investors."
TH Real Estate portfolio manager Laura Beltrametti said: "Considered to be one of the top logistics regions in Italy, this asset benefits from very good access to the main transport route connecting the north and south of the country.” TH Real Estate, which is an affiliate of Nuveen, is a real estate investment manager that spans both debt and equity across diverse geographies, sectors, investment styles and vehicle types.
Engel & Völkers Commercial Milano real estate advisor for TH Real Estate