DWS today announced it has acquired a newly built Grade A logistics facility, Trecate Centre, in the Novara Province in Greater Milan, on behalf of one of its German open ended retail funds investing in real estate from Logistics Capital Partners.
Designed to limit its environmental impact and to enhance green space, it comprises two standalone warehouses built to the highest quality construction standards. With the aim to achieve LEED Platinum certification – the highest available and currently under review, its advanced specifications will include one of Italy’s largest solar roof systems.
The newly constructed facilities serve as the global logistics hub for their sole tenant, one of the most important global luxury groups, on a long term lease agreement.
Situated in the emerging logistics Trecate hub within the West Milan sub market, it is strategically positioned between key motorways and key ports and airports, serving both the e-commerce and the supply of national and international stores.
“With this acquisition we have added a property of the highest standards which further enhances the size and quality of our growing Italian logistics portfolio, demonstrating our focus on investment properties with market leading environmental and sustainability attributes,” said Ronen Ribak, Head of Real Estate Transactions, Europe for DWS.
Matthias Naumann, CIO Real Estate Europe added: “Along with the strong tenant profile and general logistics market fundamentals, it presents an attractive investment opportunity for our fund.”
James Markby, Managing Director of Logistics Capital Partners commented: “LCP’s development platform and partnership with our customers has allowed us to create one of the best most environmentally energy efficient logistics hubs in Europe, and this has been recognised by DWS, who have been an excellent purchaser throughout this process, and during a historically challenging period. A huge amount of work and collaboration has gone into achieving this truly landmark project.”
For further information please contact:
+44 (0) 20 754 - 72603
DWS - Real Estate
DWS’s real estate investment business has been investing in real estate assets for almost 50 years. As part of the Alternatives platform, the real estate business has more than 450 employees around the world and EUR 64 billion in assets under management as of March 31, 2020. Providing a diverse range of strategies and solutions across the risk/return and geographic spectrums, we offer core and value-added real estate, real estate securities, real estate debt and opportunistic real estate. The real estate investment business employs a disciplined investment approach and aims to deliver attractive long-term risk adjusted returns, preservation of capital and diversification to its investors, which include governments, corporations, insurance companies, endowments, retirement plans, and private clients worldwide.
About DWS Group
DWS Group (DWS) is one of the world's leading asset managers with EUR 700bn of assets under management (as of 31 March 2020). Building on more than 60 years of experience and a reputation for excellence in Germany and across Europe, DWS has come to be recognized by clients globally as a trusted source for integrated investment solutions, stability and innovation across a full spectrum of investment disciplines.
We offer individuals and institutions access to our strong investment capabilities across all major asset classes and solutions aligned to growth trends. Our diverse expertise in Active, Passive and Alternatives asset management – as well as our deep environmental, social and governance focus – complement each other when creating targeted solutions for our clients. Our expertise and on-the-ground-knowledge of our economists, research analysts and investment professionals are brought together in one consistent global CIO View, which guides our investment approach strategically.
DWS wants to innovate and shape the future of investing: with approximately 3,500 employees in offices all over the world, we are local while being one global team. We are investors – entrusted to build the best foundation for our clients’ future.
Logistics Capital Partners
LCP is a top ranked pan European logistics development and asset management platform. Founded by James Markby, Kristof Verstraeten, and Andrea Benvenuti in 2015. Within 5 years, the group has quickly established itself across Europe, with offices and projects in seven countries (Italy, The Netherlands, Belgium, France, UK, Luxembourg, and Spain), and with relationships and projects on behalf of corporate occupier clients including Amazon, XPO, and Primark etc.
Currently, LCP has planned construction starts of approx. 1.5 million sq m (16 million sq ft) and additionally manages over 1 million sqm (11 million sq ft) of income producing logistics assets for a range of global institutional capital partners.