AEW Europe acquires Grade A logistics asset near Milan

Global real estate investment and asset manager AEW Europe has announced the off-market acquisition of a Grade A logistics asset from DWS. 

Basiano - AEW Europe

The fully-let property, located in Basiano, North-East of Milan, Italy, spans approximately 55,000 m2 and is strategically positioned for logistics services in Northern Italy.
Completed in 2018 as a build-to-suit project for Arcese, a global third-party logistics company with 100 locations worldwide, the asset serves as Arcese's primary European hub. The property is leased entirely to Arcese with a weighted average lease term (WALT) of around 23 years and features high technical specifications. It also has a BREEAM Good In-Use certification.
The building's location in Basiano, approximately 20 km from Milan, provides access to the A4 motorway, a crucial route for freight transportation in Northern Italy that connects to the European Transportation Corridors. The site is also part of a larger industrial zone for manufacturing and commercial activities.
Massimiliano Bernes, country head at AEW Europe, commented: “The acquisition of this core, prime Grade A logistics asset aligns with our strategy to diversify our portfolio by adding a high-quality building in an excellent location for logistics services in Northern Italy. The asset is let to an institutional-grade occupier and generates long-term sustainable income. The Italian logistics market remains an attractive sector for investment, driven by significant re-pricing over the last 24 months, with occupier fundamentals remaining strong.”
AEW Europe was advised by Bonelli Erede, Drees & Sommer and WCG - World Capital Group.
AEW Europe manages a portfolio of logistics assets in Italy totalling 450,000 m2.