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Transactions - JANUARY 12, 2022

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Principal Real Estate Europe acquires Italian logistics asset for €26m

by Released

Principal Real Estate Europe has acquired a core logistics asset for €25.73 million ($29.38 million) in Milan, Italy, for the Principal European Core Fund.

Located at Via Molina 76, Vignate is a newly developed 29,000-square-meter (312,153-sqaure-foot) logistics asset fully let on a long-term lease to Multilogistics S.P.A., a 3PL company serving the local and international markets.

As part of the Principal European Core Fund’s strategy to become carbon neutral by 2030, Vignate has excellent asset management opportunities, with the potential to achieve a BREEAM ‘Excellent rating’ and incorporate enhanced sustainability measures, including the installation of photo voltaic panels, rainwater recycling, electric vehicle charging points, natural ventilation and cooling, and external glazing shields to prevent heat transfer.

Vignate is well located close to national and international transport links, including the Milan Linate airport and the A51 and A52 mot

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