• Transaction / Assets
    Invesco Real Estate Acquires Logistics Park in Lisbon
  • Seller
    n/a
  • Buyer
    Invesco Real Estate / Bayerische Versorgungskammer
  • € MM
    n

Invesco Real Estate Debuts in Portugal with Acquisition of Logistics Park

1 February 2019

The private transaction was carried out on behalf of Bayerische Versorgungskammer (BVK). The logistics park has a gross leasable area of ​​78,000 square meters divided into six warehouses and two plots of land.

Invesco Real Estate made its debut in Portugal, acquiring a logistics park in Portugal on behalf of Bayerische Versorgungskammer (BVK), in its first operation in the Portuguese market.

The company purchased an asset in the north of Lisbon in an off-market transaction. According to Invesco, the asset will “boost the growth and diversification of the portfolio” of one of the group’s separate accounts.

The logistics park has a gross leasable area of ​​78,000 square meters divided into six warehouses and two plots of land, with 14,000 square meters of buildable area.

The park is fourteen kilometres from the centre of Lisbon and nine kilometres from the international airport. “Portuguese logistics has become an attractive product for institutional investors, as they offer a performance premium compared to other European markets and where we expect rental growth driven by e-commerce,” said Steffen Pilopp, senior director of fund management at Invesco.

The group manages a portfolio of assets valued at more than 55.2 billion euros. The company, founded in 1983, has 21 offices in the United States, Europe and Asia. On the European continent, Invesco manages 151 assets valued at 9.9 billion euros in twelve countries.

Original Story: EjePrime

Translation: Richard Turner