These materials are issued by PGIM Limited and/or PGIM Real Estate Luxembourg S.A. In certain EEA countries, information is, where permitted, presented by PGIM Limited in reliance of provisions, exemptions or licenses available to PGIM Limited under temporary permission arrangements following the exit of the United Kingdom from the European Union. is authorised and regulated by the Commission de Surveillance du Secteur Financier (the “CSSF”) in Luxembourg (registration number A00001218) and operating on the basis of a European passport. with registered office: 2, boulevard de la Foire, L-1528 Luxembourg. In the European Economic Area (“EEA”), information is issued by PGIM Real Estate Luxembourg S.A. PGIM Limited is authorised and regulated by the Financial Conduct Authority (“FCA”) of the United Kingdom (Firm Reference Number 193418). In the United Kingdom, information is issued by PGIM Limited with registered office: Grand Buildings, 1-3 Strand, Trafalgar Square, London, WC2N 5HR. PGIM is a trading name of PGIM, Inc and its global subsidiaries. Registration with the SEC does not imply a certain level of skill or training. PGIM, Inc., is the principal asset management business of PFI and is a registered investment advisor with the US Securities and Exchange Commission(SEC). The content and materials presented here are for informational and educational purposes only and should not be construed as investment advice or an offer or solicitation in respect of any products or services to any persons who are prohibited from receiving such information under the laws applicable to their place of citizenship, domicile or residence. All investments involve risk, including the possible loss of capital. #Tripeaks logistics professional#opens in a new windowįor Professional Investors only. The team continues to build exposure to the logistics sector, against a backdrop of increasing online retail demand and an increasing emphasis on supply-chain resilience.ĭisclosure Statement (California) opens in a new window Disclosure Statement (Japan) Disclosure Statement (UK) opens in a new window Form CRS - PGIM, Inc. Both the Lombardy and Emilia Romagna acquisitions offer strong downside protection, are fully aligned to our defensive investment philosophy and support our aim to deliver long-term outperformance with low volatility through cashflow diversification.” This means there remains substantial catch-up potential relative to more mature markets, such as the UK and Germany. However, while the market share for e-commerce has increased significantly in Italy over the past decade, penetration is still low. Sebastiano Ferrante, deputy head of Europe and head of Italy at PGIM Real Estate, comments: “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. Based in the group’s Milan office, Bocrezian leads PGIM Real Estate’s efforts to source and execute investment opportunities in the country. In 2020, PGIM Real Estate announced a dedicated on-the-ground presence in Italy, appointing Musie Bocrezian as head of transactions for Italy. Prime logistics rents in Bologna are forecast to increase over the next five years, on the back of an expected strong economic recovery from the Covid-19 downturn. The property is fully let to a top-tier logistics company and in a desirable location due to its proximity to the A1 and A14 motorways. The third property, a 45,000-square-metre warehouse in the Emilia Romagna region, is located in a strategic area between Bologna and the Adriatic coast. Lombardy is a significant region for logistics infrastructure, with its central position providing a connection between Western and Eastern Europe. They are located in the Milan logistics sub-market of the Lombardy region, an area which includes well-known logistics hubs along the A1 highway connecting Milan to Bologna, Florence and Rome. The first two properties are newly built Grade A warehouses totaling 40,000 square metres. The properties, which are fully let to prime tenants, are located in Northern Italy-one of the country’s most significant regions for logistics properties due to strong transport links. PGIM Real Estate is the real estate investment business of PGIM, the US$1.5 trillion global investment management businesses of Prudential Financial, Inc. PGIM Real Estate has acquired three logistics assets in Italy on behalf of the investors in its European core strategy.
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