LaSalle E-REGI sells core logistics asset in Milan

MILAN (October 07, 2020) — LaSalle has completed the sale of a core logistics asset in Greater Milan, Italy for €35 million to AXA Investment Management. The disposition follows a strategic decision of the Fund to exit the Italian market while creating superior investment performance.

The asset is located in Liscate, approximately 16 km east of Milan’s city centre, and benefits from strong road transport infrastructure within close proximity. Its strategic location sits next to Milan's East Ring Road and the new "Bre.Be.Mi." (Brescia-Bergamo-Milan) motorway, providing easy access to the key cities of Northern Italy.

The standalone asset comprises c. 46,000 sqm of purpose-built single-storey logistics space, which is spread across two blocks and includes 102 loading bays, office space and a canteen. It is fully let to an institutional grade tenant on a strong covenant, offering long term income visibility, while the high-quality asset offers the flexibility to be multi-tenanted if required.

Uwe Rempis, Managing Director and Fund Manager of LaSalle E-REGI, said: “This disposition has been a planned and well-executed transaction by our team, where we have swiftly exited a country which no longer fits with our Fund strategy and sold an asset at a very attractive price, generating an excellent return for our investors.”

About LaSalle Investment Management 

LaSalle Investment Management is one of the world's leading real estate investment managers. On a global basis, LaSalle manages approximately $65 billion of assets in private and public real estate property and debt investments as of Q1 2020. LaSalle's diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. LaSalle sponsors a complete range of investment vehicles including separate accounts, open- and closed-end funds, public securities and entity-level investments. For more information please visit http://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.

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