PGIM Real Estate acquires three logistics properties in Italy

PGIM Real Estate has acquired three logistics assets in Italy on behalf of the investors in its European core strategy. PGIM Real Estate is the real estate investment business of PGIM, the US$1.5 trillion global investment management businesses of Prudential Financial, Inc. (NYSE: PRU).

The properties, which are fully let to prime tenants, are located in Northern Italy—one of the country’s most significant regions for logistics properties due to strong transport links. The first two properties are newly built Grade A warehouses totaling 40,000 square metres. They are located in the Milan logistics sub-market of the Lombardy region, an area which includes well-known logistics hubs along the A1 highway connecting Milan to Bologna, Florence and Rome. Lombardy is a significant region for logistics infrastructure, with its central position providing a connection between Western and Eastern Europe. 

You can now read the full press release at the link below