PATRIZIA : continues expansion of pan European logistics platform with major investment in Italy’s “golden triangle” sub market

• PATRIZIA invests over EUR 70 million in a modern Italian logistics portfolio through its PATRIZIA Logistik-Invest Europa Fund series
• Assets located in Italy's "golden triangle" industrial sub-market between Verona and Bologna along one of the country's major distribution corridors
• Newly-developed portfolio is 100% occupied with EPC A ratings, LEED Gold certifications, rooftop PV and green lease agreements
• Acquisition drives PATRIZIA's investment programme acquiring sustainable best-in-class assets in prime European markets with value-add potential
• Investment further strengthens PATRIZIA's EUR 7 billion pan-European industrial platform, supporting long-term transition megatrends driven by urbanisation and digitalisation

Augsburg, Milan, 25 June 2024. PATRIZIA, a leading partner for global real assets, has closed a deal to invest over EUR 70 million in a modern industrials portfolio in Italy's "golden triangle" sub-market through its PATRIZIA Logistik-Invest Europa Fund series, expanding the group's Italian logistics platform. The two assets are strategically located on the A22 highway between Verona and Bologna, which is one of the country's major distribution corridors.

Comprising over 90,000 sq. m. of space, the portfolio is 100% occupied by two major tenants GXO and Codognotto. The strong lease profile delivers resilient high-yield income, while an active asset management strategy will aim to capitalise on future value-add opportunities through the strong rental growth expected in the Mantova sub-market.

Built in 2022 and 2023, the modern portfolio boasts high ESG standards compliant with the Paris Climate Agreement, with both assets achieving EPC A ratings and LEED Gold certifications. The properties are equipped with rainwater collection technology, LED lighting and rooftop PV panels, while a planned capex programme to instal additional PV panels will further support the decarbonisation strategy of the portfolio.

Pierluigi Scialanga, Country Manager and Head of Transactions for Italy at PATRIZIA, comments: "With vacancy rates close to zero in certain sub-markets and a persistent undersupply of new assets, the underlying characteristics of Italy's industrial sector remain robust. As we begin a new market cycle with prolonged global volatility, deploying capital into highly attractive sectors is our key focus as we drive long term value for clients. With now over EUR 1.5 billion in assets under management, our expanding Italian alternative assets platform continues to deliver significant opportunities for our investors across the risk spectrum in both real estate and infrastructure."

Nicolai Soltau, Head of Fund Management Logistics at PATRIZIA, said: "We are pleased to continue our investment programme into best-in-class, sustainable logistics which support rapidly urbanising and digitalising cities across key European markets. Growing our exposure in Italy is an important part of our strategy as it further diversifies our geographical footprint, while at the same time delivering strong income that also has value-add growth potential through asset management and ESG initiatives. With this portfolio already compliant with the Paris Climate Agreement, we are excited to further build on the already strong ESG credentials of our European logistics platform."

This acquisition marks the latest deal in a series of major real asset investments that PATRIZIA has made in Italy over the last 12 months. Last year the group invested around EUR 50 million in a portfolio of two assets in the established sub-markets outside Rome and Bologna, while it also closed the acquisition of the 80,000 sq. m. Piacenza Business Park. The group strengthened its infrastructure portfolio with its Press Release investment in Atlantico to consolidate its Italian smart streetlighting business. It also grew its bio LNG/biogas platform Renergia with a recent bolt-on acquisition in the Agrimet subsidiary and expanded its pan-European circular economy platform with an investment in leading independent Italian waste management group Greenthesis.

PATRIZIA was advised by Legance (legal), Simmons&Simmons (legal and financing), Pirola (tax), Dils (commercial) and JLL (technical).

PATRIZIA: A leading partner for global real assets

With operations around the world, PATRIZIA has been offering investment opportunities in real estate and infrastructure assets for institutional, semi-professional and private investors for 40 years. PATRIZIA manages approx. EUR 57 billion in assets and employs around 1,000 professionals at 28 locations worldwide. PATRIZIA has been making an impact since 1984 by helping children in need, since 1992 in close collaboration with Bunter Kreis ("colourful circle") in Germany for aftercare of children with severe diseases and since 1999 through its support for the PATRIZIA Foundation. The PATRIZIA Foundation has given more than 600,000 children and young people worldwide access to education, healthcare, and a safe home to get the chance to live a better self-determined life over the last 25 years. You can find further information at www.patrizia.ag and www.patrizia.foundation

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Ed Whittaker

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