Sweden’s EQT Real Estate announced that its EQT Exeter Logistics Value Fund IV will acquire a 12-buildling logistics assemblage in the Northern Italian submarkets of Milan and Verona for roughly $248 million
The properties hold an average building age of 10 years and feature Grade A technical specifications. They are adjacent to core distribution locations via key motorways including the A1, A4 and A22, reaching major population centers and more than 12 million inhabitants.
In a statement, the company said the assemblage features “a strong, globally diversified tenant base and is well-suited to meet the growing needs of today’s modern logistics users, both in Italy and around the globe.”
“We are thrilled to incorporate this high-quality logistics portfolio into our fund,” said John Toukatly, partner and chief investment officer of European logistics at EQT Real Estate. “Strategically located in supply-constrained markets, these assets appeal to a broad array of prominent big box occupiers and aligns well with EQT Real Estate’s focus on acquiring highly reversionary, modern logistics assets in underserved European markets. By leveraging EQT Real Estate’s operational and asset management expertise, we aim to unlock additional value from these properties in our effort to exceed our investors’ expectations.”
