PGIM Real Estate has acquired three logistics properties in northern Italy for an undisclosed sum for investors in its ‘European core’ strategy.
Two of the properties are in Milan, and the third is in the Emilia Romagna region, between Bologna and the Adriatic coast.
“Prime-logistics rents in Bologna are forecast to increase over the next five years, on the back of an expected strong economic recovery from the COVID-19 downturn,” the asset manager said. All the assets are fully let to prime tenants, it added.
Channels:Deals
Companies:PGIM Real Estate