SEGRO has sold a portfolio of logistics warehouses in Italy for €327m on behalf of the SEGRO European Logistics Partnership (SELP) joint venture.
The portfolio comprises two warehouses located in Milan and two in Rome and has a total floor space of 338,745 sq m.
All of the warehouses were developed by Vailog SEGRO and the portfolio is fully let to three different occupiers. The portfolio generates a passing rent of €19m and has an average WAULT of 10.5 years.
Luca Sorbara, co-head of Italy at SEGRO, said: “We developed and delivered these modern, highly sustainable warehouses for some of our largest customers in Italy to support their expansion plans. This disposal has enabled us to divest some assets with long-leases and limited asset management potential, allowing us to recycle capital into other attractive development and investment opportunities.”
