is pursuing its fourth logistics development in Mantova, northern Italy, following the acquisition of a 145,000sqm site from a domestic real estate fund managed by Savills IM SGR.
The investment manager acquired the Mantova Sud site on behalf of a European value-add real estate strategy for an undisclosed sum, with plans to speculatively develop a 67,000sqm logistics facility.
The deal follows the firmβs three previous projects in the Mantova micro-market, which total approximately 190,000sqm and have all been fully let.
Marco Corti, managing director and country head Italy at Barings Real Estate, said: βMantova has become one of Italyβs most attractive logistics markets, supported by excellent connectivity, availability of workforce, a growing concentration of national and international occupiers, and strong supply-demand fundamentals. Having successfully delivered and leased three schemes in this micro-market, we have developed significant conviction in the location and its long-term growth prospects.
βOverall, this marks our 12th logistics transaction and our 10th logistics development project in Italy, with additional opportunities currently in the pipeline. As well as logistics, we continue to seek investment opportunities in Italy, particularly in the Milan office sector, purpose-built student accommodation (PBSA), build-to-rent and build-to-sell sectors, including through joint ventures β whether via refurbishment or development strategies.β
Gunther Deutsch, managing director, head of real estate transactions Europe at Barings Real Estate, said: βLogistics continues to represent one of our focus sectors for European real estate investment, with this transaction adding to our existing portfolio of 1.5m sqm across 47 assets. Here, the combination of resilient occupier demand, limited availability of modern stock, and positive rental growth dynamics continues to create attractive investment opportunities in markets where we have strong local expertise and an established track record.
βAcross the continent, our core convictions alongside logistics and multi-let industrial continue to represent the build-to-rent and build-to-sell sectors, as well as selective opportunities in PBSA and retail. We are active across Iberia, Italy, Germany, the Netherlands, the Nordics, and the UK, spanning the risk spectrum from value-add to core. In addition to core transactions with βan angleβ, developer JVs and forward-funded transactions remain our prime focus.β
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