Barings has acquired, off-market, a plot of land in South Verona, Italy, via an Italian real estate fund managed by Kryalos SGR.
The land has been acquired for the development of a prime 75,000-square-meter (807,293-square-foot), class A logistics complex with LEED certification, which will be developed by a specialist Italian logistics developer, Logiman Srl.
The scheme will be built in two phases, the first of which comprises 40,000 square meters (430,556 square feet) of fully consented space due to be delivered in 2021. The second phase, involving the construction of a further 35,000 square meters (376,737 square feet) of warehouse space, is expected to be completed in mid-2022.
The development is situated some 10 kilometers (tk miles) south of Verona city center, a prime logistics market benefiting from a favorable position at the intersection between the east-west and north-south European Core Network Corridors. The site is located in a prime location, su
