Transactions

Italian fulfillment center for LaSalle

February 14, 2022
  • Verona DC1 Italy

    LaSalle Investment Management (“LaSalle”) has acquired Verona DC1, a fulfillment center located in Verona, Italy, a center of strategic importance connecting northern and southern Europe. The asset was acquired on behalf of Encore+, LaSalle’s flagship pan-European fund, from DeA Capital Real Estate SGR, through Fondo Logita, on behalf of SEGRO European Logistics Partnership (“SELP”).

    The state-of-the-art e-commerce distribution hub was built in 2019 by Vailog (a SEGRO Group Company) and comprises a lettable area of 128,000 sqm split across a ground floor area, mezzanine spaces and office and service areas. Built to the highest environmental and technology standards, the hub achieved a DGNB Platinum level certification, which recognises the environmental, economic, sociocultural, functional and technical quality of assets.

    The distribution hub is situated within the economic powerhouse belt of northern Italy, which serves as a strategic gateway to the southern European market. Located in Verona, the hub benefits from excellent links to road networks connecting to France and Austria, as well as access to the European route E45, the longest north-south route in Europe. Italy has the second largest manufacturing industry in Europe and its logistics market enjoys strong fundamentals and growth prospects, due to the expected doubling of e-commerce penetration in the country by 2024.

    The asset is leased to the Italian subsidiary of one of Europe’s leading online fashion retailers. As a major market player, the company has demonstrated sustained commitment to the centre by installing advanced automation and sortation systems at the site, alongside agreeing a long-term tenancy agreement.

    David Ironside, Fund Manager for Encore+ at LaSalle, said: “Verona DC1 further increases the exposure of Encore+ to the fast-growing European logistics market. The transaction comes at an opportune moment as we continue to enhance our portfolio by identifying strategic assets that sustain strong and stable returns for our investors.”

    Francesco Coviello, Head of Transactions for Southern & Central Europe at LaSalle, added: “This logistics asset is truly best-in-class, with outstanding ESG credentials in a market with compelling fundamentals. This latest addition to the portfolio comes off the back of recent successful acquisitions undertaken on behalf of Encore+ across continental Europe. We look forward to continuing to grow our exposure to exceptionally attractive logistics assets.”

    LaSalle was advised on this transaction by K&L Gates (legal), Studio Pirola (tax), JLL (buy-side advisory) and SPI Italia (technical and sustainability advice).

    SELP was advised by Apollo & Associati (legal), Nephos and CBRE (technical), CBRE (sell-side advisory) and KPMG (tax).

    About LaSalle Investment Management

    LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. For more information please visit www.lasalle.com and LinkedIn.

    NOTE: This information discussed above is based on the market analysis and expectations of LaSalle and should not be relied upon by the reader as research or investment advice regarding LaSalle funds or any issuer or security in particular. The information presented herein is for illustrative and educational purposes and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy in any jurisdiction where prohibited by law or where contrary to local law or regulation. Any such offer to invest, if made, will only be made to certain qualified investors by means of a private placement memorandum or applicable offering document and in accordance with applicable laws and regulations. Past performance is not indicative of future results, nor should any statements herein be construed as a prediction or guarantee of future results.

    Company news

    Mar 11, 2024 LaSalle appoints Bouygues for Bergère redevelopment The building is renowned for its striking façade and exceptional architectural features, such as the main atrium and the monumental staircase.
    Mar 05, 2024 LaSalle named Real Estate Firm of the Year (ESG) at the New Private Markets Awards The venture will recapitalise a €320 million seed portfolio of five grade-A fully let logistics assets and seek to acquire and develop additional assets.
    A headshot of LaSalle's Isabelle Brennan.
    Feb 26, 2024 LaSalle boosts Global Investor Relations team with senior hire LaSalle Investment Management (“LaSalle”), the global real estate investment manager, has strengthened its global investor and client relations capabilities with the appointment of Isabelle Brennan, Senior Managing Director, Credit and Global Solutions Product Specialist.

    No results found

    Make sure you’ve spelled everything correctly, or try searching for something else. If you still can’t find what you’re looking for, you can always Contact us to talk to someone.