PGIM Real Estate invests in German residential for Europe core strategy ipe.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ipe.com Daily Mail and Mail on Sunday newspapers.
The real estate manager has paid an undisclosed sum to buy the assets in Northern Italy.
PGIM Real Estate said the first two properties are newly built warehouses totalling 40,000sqm located in the Milan logistics sub-market of the Lombardy region and the third property is a 45,000sqm warehouse in the Emilia Romagna region.
CBRE Global Investors is it sold the asset in the Emilia Romagna region to PGIM Real Estate on behalf of its European Industrial Fund. The asset was acquired by CBRE Global Investors in 2007.
Sebastiano Ferrante, deputy head of Europe and head of Italy at PGIM Real Estate, said driven by robust e-commerce activities, logistics take-up in Italy reached a record high in 2020 – despite the challenging macroeconomic environment due to Covid-19.
PGIM Real Estate turns to staff to fill new roles
Sebastiano Ferrante and Jocelyn de Verdelon
PGIM Real Estate will promote from within to fill new senior positions in Europe, effective March 1.
Sebastiano Ferrante will become deputy head of Europe, a new role responsible for European portfolio management in the firm s private debt and pan-European equity strategies.
Reporting to and working with
Raimondo Amabile, head of Europe and Latin America, Mr. Ferrante will focus on the areas including ESG, talent, diversity and inclusion, and technology and innovation.
Jocelyn de Verdelon will become head of transactions, Europe. He will further integrate the manager s pan-European investment strategy as the business grows. He will report to Mr. Ferrante.