AXA IM Alts has bought a portfolio of six Italian urban warehouses for €128m ($151m) from SEGRO, a British property investment and development company.
The warehouses were developed by SEGRO-Vailog for a global online retail company to support the growth of its distribution network in Italy and are located in Florence, Burago, Padua, Parma and Verona. Five of the sales have already completed and the sixth will complete later this year.