Global law firm Dentons advised Barings and Savills Investment Management SGR, on behalf of PELV, a pan-European joint venture between a US insurance company and a Middle Eastern sovereign wealth fund, in the forward purchase agreement with Ecodem S.r.l. for the development of a 90,000 sq.m. Grade A logistics development located in Mantua.

This off-market acquisition marks the first deal in Italy for the joint venture and it has been carried out through an investment fund set up and managed by Savills Investment Management SGR.

Work on the logistics facility has already started and is expected to be completed in early 2024. The project involves the construction of two warehouses that meet ESG requirements, including LEED Gold certification.

Dentons acted with a multi-jurisdictional and multi-disciplinary team led by partner Maria Sole Insinga, who also managed the real estate aspects with senior associate Andrea Benedetti and trainee Riccardo Colantoni. Partner Federico Vanetti and associate Andrea Oggioni advised on town planning aspects; partner Andrea Fiorelli, counsel Matteo Chinaglia and associate Simone Bertolami assisted with tax aspects; partner Alessandro Engst, counsel Valerio Lemma and associate Federico Atorino provided fund formation and regulatory advice. Partner Michele Carpagnano advised on antitrust matters, while managing counsel Edoardo Galeotti handled the banking aspects of the transaction. Luxembourg-based partner Jean-Luc Fisch, senior associate Vincent Quittre and associates Maria Rodriguez and Michael Chung advised on Luxembourg law aspects.

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