LONDON – June 3, 2025 – Bain Capital, a global private investment firm, and Stoneweg, the alternative investment group specializing in Real Assets, on behalf of their Italian value add logistics Joint Venture (the “JV”), have agreed to forward purchase, from the leading Italian logistics developer VLD, a €200 million portfolio of six, grade A logistics warehouses, in three locations, totaling 225,000 sqm of GLA.

Located in established logistics hubs, the investments underscore the JV’s high conviction in a sector where muted development activity is keeping vacancy rates contained and driving attractive rental growth prospects, and a market where tenant demand is being underpinned by compelling demographic and favorable evolving consumers behaviors.

The portfolio comprises: 

All of the assets will be developed to the highest Grade-A standards and are set to achieve at least a “LEED Gold” ESG certification.

These transactions follow the JV’s initial investments in Bari and Tuscany, where the JV has recently delivered two LEED-gold certified logistics schemes totaling 110,000 sqm.

Rafael Coste Campos, a Partner at Bain Capital, said: “We maintain a positive outlook on European logistics and, across the locations where we are present, are well positioned to benefit from the current market tailwinds. We see a solid demand outlook, fostered by secular themes of e-commerce penetration and nearshoring, a reduced pipeline of modern, Grade-A product, whilst witnessing increasing quality requirements from tenants. All this is contributing to contained vacancy and growing rents. Our European Grade-A logistics portfolio has reached a critical mass of $1.5 billion GDV today, and we are looking to expand further. This investment marks a significant milestone in our strategy and further strengthens our long-term partnership with Stoneweg.”

Joaquin Castellvi, Co-Founder and Head of Strategic Investments at Stoneweg commented: “The Italian logistics sector continues to be characterized by sub-5% vacancy levels and has been a top performer in 2025, with investment activity up 121% year on year, underlining the sector’s defensive characteristics despite the uncertain global economic backdrop. Driven by demand from the renewable energy, luxury maritime and e-commerce logistics segments, and supported by Italy’s favourable GDP and employment outlook, we anticipate strong occupier demand for these highly sustainable assets. Alongside Bain Capital, and leveraging the strength of our local teams, as well as the opportunities being presented by current market dislocation, we have the ambition and near-term pipeline to significantly scale the platform.”