Dils advises on major logistics portfolio transaction in Italy

Dils acted as advisor in the sale to CBRE Investment Management of Italy’s largest logistics portfolio sale by AUM, comprising eight Grade A assets owned by a series of closed end alternative real estate investment funds managed by primary Italian SGRs and fully subscribed by Techbau and BGO.

The eight asset portfolio totals approximately 327,000 sqm of gross lettable area across five of Italy’s most established logistics submarkets: three assets in the Bologna market, three in the Greater Rome area, one in Greater Milan and one in Verona market.

Five of the buildings, with an average age of just three years, are LEED Gold certified, while the last two assets completed in 2026 hold LEED Platinum certification, the highest available recognition for environmental sustainability. The portfolio is fully let to leading logistics and large scale retail operators, with an average WALB of nine years across the existing lease agreements.

Spanning four of Italy’s most established logistics hubs, the portfolio benefits from prime positioning along the country’s core transport corridors, with direct connectivity to major national and European trade routes serving northern and central Italy.

The market has also seen a progressive consolidation of its fundamentals, supported by sustained rental growth in recent years and strong occupier demand across primary hubs such as Milan, Bologna, Rome and Verona.

The transaction underscores CBRE Investment Management’s strong interest in the Italian logistics market and confirms the growing appeal that fully let, sustainability certified logistics assets hold for international institutional investors.

Overall, the Italian logistics sector continues to attract international capital, supported by strong fundamentals, strategic infrastructure and long term demand drivers. Investment volume in 2025 marked its best annual performance since 2022, reaching €2.1 billion and increasing by 31% compared with 2024.

As at the end of Q1 2026, investment volume in the Italian logistics market stood at approximately €420 million, representing around 15% of total investment in Italian commercial real estate, with expectations that full year volumes will comfortably exceed €2 billion.

Investor appetite remains strong nationwide, with growing interest in modern, sustainability certified assets.