CMS with the companies of the VGP group in the financing of new logistic facilities in northern Italy

DLA Piper and CMS Italia advised, respectively, Aareal Bank and European Logistics 2 S.a r.l. in the financing transaction, for euro 42 million, of three logistics properties located in the Municipalities of Padova (PD), Calcio (BG) and Sordio (LO).

VGP Park Calcio S.r.l., VGP Park Padova S.r.l. and VGP Park Sordio S.r.l. were, within the transaction, acquired  by VGP European Logistics 2 S.r.l., a joint-venture between the VGP group and several other companies belonging to the Allianz Group. The properties were developed by VGP Group, one of the main European players in the sector of the development and management of logistic and semi-industrial facilities of high quality.

The properties, all newly developed and having high sustainability standards (among which the BREEAM Very Good certification), are all rented to primary logistic and industrial operators and some of them has been built following the requalification of the relevant areas.

The transaction is part of a more complex European financing granted to the Joint Venture held by VGP European Logistics 2 S.a r.l. , of which the first Italian tranche had been drawn in December 2020, in favour of the Italian company VGP Park Valsamoggia S.r.l.

In this complex transaction, Aareal Bank has been advised by DLA Piper, with a multidisciplinary team coordinated by the partner Giuseppe Mele, assisted by the legal director Ivano Sproviero and by the lawyer Giulia Gambarini, and composed by the partner Valentina Marengo, assisted by the lawyer Chiara Sciaraffa in relation to the real estate matters, by the partner Carmen Chierchia and the lawyer Viviana De Napoli in relation to the administrative and town planning matters and by the partner Andrea Di Dio, assisted by the lawyer Valentina Trappolini in relation to the tax matters.

Edoardo Pecorario, legal counsel of the Italian branch of Aareal Bank coordinated the legal assistance for the bank.

European Logistics 2 S.a r.l.   has been advised on the financing transaction by CMS Italy, and specifically by a multidisciplinary team composed by the lawyers Paolo Bonolis and Maria Giovanna Pisani, respectively, Partner and Counsel of the Banking & Finance department of the Firm and by Dietmar Zischg (partner),  Francesco Sabatino (counsel) and Selina Mazzoni (associate) for the real estate related aspects.