Savona Logistics - Liguria Region, Italy
Off-market acquisition in a highly supply-constrained location close to Savona harbor, one of the main Italian commercial ports.
Hines European Property Partners (HEPP)
Solar Power to Drive the Funds’ ESG Ambitions
AT A GLANCE
Liguria Region, Italy
39,400 sqm
Acquired Q2 2023
Description
In Q2 2023, HEPP acquired Savona, a logistics asset including cold storage, which is fully let to one of Italy’s largest supermarket wholesalers. The facility is the tenant’s key logistics hub for northwestern Italy. Due to the absence of available land near this area of the Ligurian Sea coast, there is limited development potential.
The property already has strong ESG credentials. Tenant electricity is supplied by solar panels on the roof producing circa 2.5 MW (and intended to be improved), with further ESG upgrades during the hold period.
Gallery
Disclosures
Savona is part of the HEPP portfolio. The case study herein is for illustrative purposes only. It should not be assumed that investments made in the future will be comparable in quality or performance to the investment described herein. Case studies selected are the first acquisitions by the Fund in Germany, Italy, and the UK.