Italian investment manager Coima has forward purchased a portfolio of logistics developments in northern and central Italy, paying developer Logiman €300 million.
The acquisition continues an investment program for the Coima Logistics Fund II, which has a target of €1 billion for 2022 and was launched at the beginning of the year. The latest acquisition brings the total invested by the fund to €700 million following €400 million of acquisitions in Q1.
The portfolio comprises seven development projects in the Milan area and Veneto logistics corridor on sites in the provinces of Como, Bergamo, Lodi, Pavia, Piacenza, Mantua and Belluno. They include one multi-storey warehouse, two regional logistics properties and four last-mile facilities. Coima said that 80% of the portfolio will be developed on a built-to-suit basis for logistics tenants such as 3PLs, e-commerce and couriers.
The properties will target LEED or BREEAM certification and will include features such as photovoltaic systems, air conditioning systems in warehouse spaces, charging stations for electric vehicles, sports centres and green areas. Construction has begun on a number of the sites and all of the assets are expected to be completed by 2023.