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09 December 2025

M&G Real Estate acquires €85 million prime logistics portfolio in Milan

2025

Milan, 9 December 2025 – M&G Real Estate, today announces the acquisition from Principal Asset Management of a three-asset logistics portfolio in Greater Milan, Italy, for approximately €85 million. With significant capital to deploy, the acquisition, on behalf of the M&G European Property Fund, supports its ongoing expansion.

The three fully let logistics assets in Vignate, Biandrate, and Rho, total over 110,500 sqm – the equivalent to over 15 football pitches. Over the next decade, M&G plans significant upgrades to the portfolio to improve its environmental credentials. Positioned in Italy’s key northern distribution corridors, they are well connected to Milan’s metropolitan area and major transport infrastructure, with one of the lowest vacancy rates in Europe.

The assets are leased to a variety of established national and international third-party logistics providers, providing a resilient income stream, while also presenting significant potential for rental growth and long-term value creation.

Simon Ellis, Fund Manager of the M&G European Property Fund, commented: “This acquisition reflects our continued conviction in the logistics sector across Europe, where structural demand drivers remain strong. By investing further in these assets to improve their quality, we aim to deliver long-term value and performance for our clients, while further diversifying the Fund’s portfolio.”

Gabriele Inglese, Director Asset Management, M&G Real Estate Italy, added: “Milan is a leading European city with strong fundamentals and a promising outlook driven by its cultural dynamism, tourism and shopping. Greater Milan is Italy’s leading logistics hub, and this portfolio allows us to deepen our presence in a market characterised by strong occupier demand and limited supply. This investment underlines our long-term commitment to the Italian market, as well as our focus on delivering resilient, high-quality opportunities for our investors.”

The acquisition was completed through a SICAF (Società di Investimento a Capitale Fisso) vehicle managed by DeA Capital Real Estate SGR. Colliers acted as the appointed broker for the transaction.


Media enquiries

Camilla Mastellari

Media Relations

Notes to editors

M&G Investments is part of M&G plc, a savings and investment business which was formed in 2017 through the merger of Prudential plc’s UK and Europe savings and insurance operation and M&G, its wholly owned international investment manager. M&G plc listed as an independent company on the London Stock Exchange in October 2019 and has €414 billion of assets under management (as at 30 June 2025). M&G plc has customers in the UK, Europe, the Americas and Asia, including individual savers and investors, life insurance policy holders and pension scheme members. For nearly nine decades M&G Investments has been helping its customers to prosper by putting investments to work, which in turn creates jobs, homes and vital infrastructure in the real economy. Its investment solutions span equities, fixed income, multi asset, cash, private debt, infrastructure and real estate.

M&G plc recognises the importance of responsible investing and is a signatory to the United Nations Principles for Responsible Investment (UNPRI) and is targeting net zero emissions by 2050, across our investment portfolios and operations. For more information, please visit: www.mandg.com  


This press release is intended for journalists and media professionals only. It should not be relied on by private investors or advisers.

This press release reflects the authors’ present opinions reflecting current market conditions; are subject to change without notice; and involve a number of assumptions which may not prove valid. It has been written for informational purposes only and should not be considered as investment advice or as a recommendation of any particular security, strategy or investment product. Past performance is not a guide to future performance.

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M&G plc, incorporated and registered in England and Wales. Registered office: 10 Fenchurch Avenue, London EC3M 5AG. Registered number 11444019. M&G plc is a holding company, some of whose subsidiaries are authorised and regulated, as applicable, by the Prudential Regulation Authority and the Financial Conduct Authority.

M&G plc is a company incorporated and with its principal place of business in England, and its affiliated companies constitute a leading savings and investments business. M&G plc is the direct parent company of The Prudential Assurance Company Limited. The Prudential Assurance Company Limited is not affiliated in any manner with Prudential Financial, Inc, a company whose principal place of business is in the United States of America or Prudential plc, an international group incorporated in England and Wales.

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M&G plc, incorporated and registered in England and Wales. Registered office: 10 Fenchurch Avenue, London EC3M 5AG. Registered number 11444019. M&G plc is a holding company, some of whose subsidiaries are authorised and regulated, as applicable, by the Prudential Regulation Authority and the Financial Conduct Authority.

M&G plc is a company incorporated and with its principal place of business in England, and its affiliated companies constitute a leading savings and investments business. M&G plc is the direct parent company of The Prudential Assurance Company Limited. The Prudential Assurance Company Limited is not affiliated in any manner with Prudential Financial, Inc, a company whose principal place of business is in the United States of America or Prudential plc, an international group incorporated in England and Wales.

M&G plc は、イングランド及びウェールズで設立・登録。本社登録地は10 Fenchurch Avenue, London EC3M 5AG。登録番号11444019。M&G plcは持ち株会社で、その子会社の一部はPRA(健全性監督機構)及びFCA(金融行為規制機構) に認可され、それらの規制対象となっています。

M&G plc は、イングランドを登録地、及び主たる事業領域とする会社で、その関連会社は有数の貯蓄・投資機関として基盤を確立しています。M&G plcは、Prudential Assurance Company Limited(プルデンシャル・アシュアランス・カンパニー・リミテッド)の直接親会社です。なお、Prudential Assurance Company Limitedは、アメリカ合衆国を主たる事業領域とするPrudential Financial, Inc.(プルデンシャル・ファイナンシャルInc.)またはイングランド及びウェールズで設立された国際グループ企業であるPrudential plc(プルデンシャル・ピーエルシー)とは一切関係がありません。

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M&G plc, incorporated and registered in England and Wales. Registered office: 10 Fenchurch Avenue, London EC3M 5AG. Registered number 11444019. M&G plc is a holding company, some of whose subsidiaries are authorised and regulated, as applicable, by the Prudential Regulation Authority and the Financial Conduct Authority.

M&G plc is a company incorporated and with its principal place of business in England, and its affiliated companies constitute a leading savings and investments business. M&G plc is the direct parent company of The Prudential Assurance Company Limited. The Prudential Assurance Company Limited is not affiliated in any manner with Prudential Financial, Inc, a company whose principal place of business is in the United States of America or Prudential plc, an international group incorporated in England and Wales.