Gleiss Lutz advises Invesco on acquisition of logistics portfolio
A Gleiss Lutz team has advised Invesco Real Estate (Invesco), an international real estate investment management firm on its acquisition of several logistics properties for Universal-Investment.
The portfolio comprises six logistics projects with a tottal leased space of 71,000m² close to Munich and Frankfurt am Main. The pre-financed transaction was part of a new matter managed by Universal-Investment-Luxembourg S.A. as an AIFM for one of Invesco’s longstanding single account clients, Bayerischen Versorgungskammer (BVK). The newly constructed logistics parks are scheduled for completion by late 2019/early 2020. Four of the six logistics centres have already been pre-let to large tenants such as BMW and Rhenus.
Invesco Asset Management Deutschland GmbH, Invesco Asset Management Österreich - a branch of Invesco Asset Management Deutschland GmbH - and Invesco Asset Management (Schweiz) AG all belong to Invesco Ltd., one of the world’s largest independent investment management firms, which manages over USD 888.2 billion in assets (as at: 31 December 2018).
The following team of Gleiss Lutz lawyers, led by Dr. Tim Weber (partner, real estate/M&A, Frankfurt) advised Invesco in connection with the transaction: Dr. Jacob von Andreae (partner), Dr. Lars Kindler (both Düsseldorf), Dr. André Lippert (Berlin, all public law), Svenja Bender, Michael Neher (both Frankfurt), Konrad Discher (Berlin, all real estate/M&A).