- Acquisition from Logiman covers approximately 300,000sqm of prime logistics space near Milan and Veneto
- The acquisition brings the total invested by the COIMA Logistics Fund II to €700m following the completion of €400m of acquisitions by the fund in Q1
- COIMA Logistics Fund II fund targeting €1bn of logistics investments in 2022
Milan, 14 April 2022 – COIMA SGR – a leader in the asset management of investment funds on behalf of institutional investors - continues its investment program in logistics trough the COIMA Logistics Fund II, launched at the beginning of the year, with a target of one billion euros invested in this asset class in 2022.
The company, on behalf of the COIMA Logistics Fund II, has concluded a forwardpurchase agreement for a portfolio of Grade A logistics developments of approximately 300,000 square meters with Logiman, an Italian group specialized in the development of industrial, logistics, last mile and express courier in northern/central Italy. This off-market operation has a value of approximately €300 million and constitutes an important contribution to the growth of COIMA's logistics platform.
The portfolio includes 7 development projects in strategic locations in the Milan area and the Veneto logistics corridor, one of the most active and consolidated logistics regions in the country. The sites are located in the provinces of Como, Bergamo, Lodi, Pavia, Piacenza, Mantua and Belluno. The assets have excellent accessibility and are located near primary transport corridors, such as the A1 (Milan-Naples), A4 (Turin-Trieste), A9 (Lainate-Chiasso) and A22 (Modena-Brennero) motorways.
The properties will be developed in line with the best international logistics benchmarks, with LEED or BREEAM certified NZEB properties. One property that will be an innovative multi-storey warehouse, two regional logistics properties and four last-mile properties. 80% of the portfolio will be developed as built-to-suit for leading active logistics tenants such as 3PL, e-commerce and couriers. In addition, the projects include elements that improve the ESG profile of buildings, such as photovoltaic systems, air conditioning systems in warehouse spaces to improve the well-being of users, charging stations for electric vehicles, sport centres and green areas. Construction has already begun for some of the properties, with all assets expected to be completed by 2023.
In addition to these properties, there is an investment pipeline being finalized for an additional 100 million euros of other logistics assets in northern Italy with LEED and BREEAM environmental certifications and in line with the best international benchmarks.