MILAN, 16 May, 2016 – CBRE Global Investors has completed the acquisition of a logistics park located in Truccazzano (Milan), on behalf of its CBRE European Industrial Fund (EIF) for approximately EUR24 million. The vendor was AKNO Business Parks, an international industrial and logistics park developer and manager.
The park was built by AKNO Business Parks in 2004 and consists of two independent logistics warehouses connected by an office building, totaling a gross area of 35,000 sqm. The property is located approximately 25 kilometers east of Milan with good access and proximity to the A4 (Turin-Venice), A35 (BreBeMi) and A1 (Milan-Naples) highways.
The property is fully occupied by major national and international logistic operators.
Pierre-David Baylac, Fund Manager for EIF, CBRE Global Investors, said: "We are delighted to add Truccazzano to the EIF portfolio, which has a special focus on divisible high-quality assets in the main large population centres in Western Europe. Since the beginning of the year we have been very active with acquisition of cross-dock and distribution centres in France, Germany, and now Italy."
Sandro Campora, Managing Director Italy, CBRE Global Investors, commented: "This transaction is another example of the growing interest of international investors in the Italian market, and the logistics sector in particular. Logistics continues to grow as a strategic asset class for investors in Italy, and we aim to invest further in this sector going forward.”
Alex Nuhi, AKNO Business Parks, commented: "We are very proud to have closed the Truccazzano Business Park deal with such an important firm like CBRE Global Investors. This transaction represents a big acknowledgment of the quality, innovation and state-of-the-art of our properties and of the high quality of our clients."
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About CBRE Global Investors
CBRE Global Investors is a global real estate investment management firm with $89.7 billion in assets under management* as of March 31, 2016. The firm sponsors investment programs across the risk/return spectrum for investors worldwide.
CBRE Global Investors is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBG). It harnesses the research, investment sourcing and other resources of the world’s premier, full-service commercial real estate services and investment company for the benefit of its investors. CBRE Group, Inc. has more than 70,000 employees in more than 400 offices (excluding affiliates) worldwide. For more information about CBRE Global Investors, please visit www.cbreglobalinvestors.com.
*Assets under management (AUM) refers to the fair market value of real estate-related assets with respect to which CBRE Global Investors provides, on a global basis, oversight, investment management services and other advice, and which generally consist of investments in real estate; equity in funds and joint ventures; securities portfolios; operating companies and real estate-related loans. This AUM is intended principally to reflect the extent of CBRE Global Investors’ presence in the global real estate market, and its calculation of AUM may differ from the calculations of other asset managers.
About AKNO Business Parks
AKNO Business Parks active since more than 40 years in the real estate market as a leader in the development and management of logistics parks and industrial projects State-of-the-Art at international level. The plants developed by AKNO Group are compliant with the more severe quality, innovation and technology standards and respecting the environment and with attention to details. Photovoltaic implants, thermal cut windows, biogas plants, presence detector e rainwater recycling systems are only some examples of the innovative techniques of the Group complexes in order to consent maximum respect towards the environment, people and the collectivity. All AKNO Business Parks structures are realized with Italian ultra-modern materials in order to grant to clients high quality constructions, impeccably finished with a high visual impact. AKNO Business Parks is specialized in the design and construction of buildings ready to be used in the industrial, logistic, commercial and hotel sector at global level. www.aknospa.it
