PGIM Real Estate has acquired three logistics assets in Italy on behalf of the investors in its European core strategy. PGIM Real Estate is the real estate investment business of PGIM, the $1.5 trillion global investment management businesses of Prudential Financial.
The properties, which are fully let to prime tenants, are located in Northern Italy — one of the country’s most significant regions for logistics properties due to strong transport links.
The first two properties are newly built class A warehouses totaling 40,000 square meters (430,556 square feet). They are located in the Milan logistics submarket of the Lombardy region, an area that includes well-known logistics hubs along the A1 highway connecting Milan to Bologna, Florence and Rome. Lombardy is a significant region for logistics infrastructure, with its central position providing a connection between Western and Eastern Europe.
The third property, a 45,000-square-meter (48
