…and we stay with logistics: Invesco Real Estate has invested €37m in a 57,000 sqm BTS scheme developed by Panattoni for Tesco. The investment is on behalf of iii-BVK Europa-Immobilien-Spezialfonds, (a real estate fund of Bayerische Versorgungskammer Invesco Real Estate has managed since 2000). The building is located next to the junction of the A1 and A4 in Gliwice and Tesco will use it to serve southern Poland. Panattoni and Invesco RE have what they call “an existing relationship”.
Bettina Knirsch, Invesco Real Estate’s Director of Fund Management said
This forward funded prime logistics property not only complements the existing assets within our client’s mandate but adds further diversification to their overall portfolio with an asset that is long-let to a good covenant tenant, providing a stable and attractive income stream.