London, Monday, 18 April 2022
Hines and Allianz Real Estate have completed a €80 million investment in Blue SGR's Urban Mile fund. The investment includes the purchase of 110,000 square metres of brownfield land in Milan's Via Rubattino for the creation of an innovative logistics centre for last-mile deliveries and electric transportation.
The new complex, which will be completed over the following 36 months, will be one of Milan's largest logistical platforms. It is close to the eastern ring road, Linate airport, and the Segrate intermodal terminal, which connects Italy to Northern Europe, including Germany, Belgium, and the Netherlands, as well as Southern Italy.
As the demand for loading bays near metropolitan areas grows, the logistics facility will play a significant role in supporting e-commerce-related deliveries. It will become critical to incorporate large cargo vehicles into local transportation as a result of having an integrated system. The facility also incorporates new ways to promote electric mobility, and it was designed to allow and promote sustainable travel in the local area, such as cycling, to help reduce emissions even further.
The project will be carried out in compliance with the highest international standards of sustainability and safety, with a significant focus on its environmental impact, in keeping with both Hines and Allianz Real Estate's decarbonisation ambitions. It was built to meet the Carbon Risk Real Estate Monitor (CRREM) standards, which aim to expedite decarbonization and boost commercial building resilience to climate change. Photovoltaic panels, water-filtering paved surfaces, low-consumption LED lighting, high-performance cladding to dissipate exterior heat and manage the internal temperature, and tree-lined environmental corridors will all be included to reduce the impact on the environment.
Upon completed, it is intended to receive a BREAAM 'Very Good' certification. The development of an indoor green area with drainage functions encompassing approximately 22,000m2 will counteract the already lowered CO2 emissions.
"This is our second investment in the logistics sector this year and represents our first last-mile facility for Hines in Milan," Mario Abbadessa, senior managing director and country head of Hines in Italy, said. Hines can further increase its footprint in the Italian logistics industry by cooperating with Allianz Real Estate on this facility, and build projects that include new approaches and have a good, direct influence on urban communities and the people who live there."
"As the demand for last-mile logistics facilities continues to grow in such a competitive market, we are delighted to participate in this investment that showcases the strength of our team, our local network and expertise, and our market proposition," said Donato Saponara, Head of Investments West Europe - Country Head of Italy, Allianz Real Estate. Our goal is on expanding our logistics exposure with key partners, as well as establishing cutting-edge facilities that include our ESG strategy while also solving the supply deficit."
(Researched, written and edited by: The Decision Maker)