Italian logistics park sells for €274m

PATRIZIA EuroLog Fund SCSp, advised by CBRE, has sold Oppeano Logistics Park, a prime logistics hub approximately 15 kilometers (9 miles) south of Verona, Italy. PATRIZIA has agreed to the sale of the logistics park to Starwood for €274 million ($285 million), achieving a new record sale in the Italian logistics market.

“The sale of Oppeano Logistics Park is a prime example of CBRE’s collaborative approach, involving multiple teams throughout the lifecycle of the park,” said Simon Blake, chairman, EMEA industrial and logistics at CBRE. “We were the original buyside advisor in 2019 for Project Mercury, a Pan-European portfolio which the park was a part of, and the leasing and build cost consultancy advisors and property managers for the park. This has been a team effort from start to finish across our European business.”

The Oppeano Logistics Park represents best-in-class facilities, comprising five logistics warehouses of more than 246,000 square meters (2.