Hines acquires prime logistics scheme in Bologna, Italy

Hines has signed the forward purchase of a new, high-quality 82,300-square-meter 885,870-square-foot) logistics scheme in the Bologna region of Italy on behalf of the Hines European Value Fund 2 (HEVF 2), through a newly established Italian real estate investment fund (REIF).

Castel San Pietro Logistics (CSP Logistics) will be delivered by the vendor, FAP Investments, a leading Italian logistics developer, and once completed in 2022 will comprise two mid-box units of 37,300 square meters and 45,000 square meters (401,490 square feet and 484,375 square feet), respectively. The acquisition was agreed off-market between the parties for an undisclosed purchase price.

The scheme is well located in the established logistics hub of Castel San Pietro, Bologna, one of the three primary Italian industrial districts and a nexus for the country’s main transport routes. The site is   on the edge of the E45 motorway offering excellent connectivity across northern and central I