12 October, Il Sole 24 Ore
The biggest European hub of the French group passes to the Germans that close one of the biggest real estate operations in Italy for years. Invested over 30 million
The logistical sector continues to grow, and it’s not by chance that Deutsche Asset Management chose this segment for one of the biggest real estate operations of the past few years in Italy. The group, through RREEF Spezial Invest, bought on behalf of one its managed property funds the Decathlon logistical hub in Basiano, north-west from Milan, the historical operational headquarter of the sportswear company, which, over the last few years, had to move to bigger buildings due to its expansion. Nowadays, the hub in Basiano is Decathlon’s biggest logistical platform in Europe. The facility is new (it was inaugurated in May 2017) hence it comes with the highest quality standards, including the class A energetic qualification.
Previously, the facility belonged to Fap Investments, a real estate company born from the merger between the groups Ferrari and Areese, both operating in the logistical and transport sectors. For Deutsche Asset management, a Deutsche Bank company, this was a crucial operation in a particularly strategic location, well served by infrastructures (included the recent connection with Tem), making of it one of the main junctions in Northern Italy. In fact, from Basiano, Decathlon servers 45 stores scattered all over Northern Italy and Slovenia, besides managing most of the group’s e-commerce. According to Milano Finanza, the building was assessed by Deutsche Asset Management for over 30 million for a 30 years lease and with returns aligned with those of prime logistical properties.
Source: Il Sole 24 Ore (by Manuel Follis)
Translator: Cristina Ambrosi