PGIM Real Estate has acquired a logistics portfolio in Italy, on behalf of an institutional investor as part of their European core/core-plus investment program; the portfolio consists of three warehouse properties located in greater Rome and Northern Italy.
With a total area of around 70,000 square meters (753,000 square feet), the properties are fully let to prime tenants operating in ecommerce, pharmaceutical and transport sectors. Two of the properties are located in Northern Italy, one of the most significant regions for logistics properties due to transport links; the third property is located in the greater Rome area, which is the second most important economic region in Italy besides Milan, with the largest consumer market in the country. These assets are closely located at major motorways providing good accessibility throughout Italy and Europe.
Earlier this year, PGIM Real Estate announced a dedicated on-the-ground presence in Italy by appointing Musie Bocre
