Invesco buys six logistics projects in the greater Munich and Frankfurt areas for BVK
Invesco Real Estate has acquired a portfolio of six new logistics buildings with 71,000 sqm of lettable space for a new mandate from the Bayerische Versorgungskammer (BVK). The seller is a joint venture of MP Holding and Isarkies. The properties, marketed under the name “Multiparks”, are being built in Maisach, Moosburg, Dingolfing, Neu-Isenburg, Wiesbaden (Nordenstadt district) and Rodgau (Weiskirchen district). Four of them have already been pre-let to major tenants, for example BMW. They are to be completed by late 2019 or early 2020. Invesco was advised on the off-market deal by Gleiss Lutz (legal), SMV (technical) and EY (tax). GSK Stockmann advised MP Holding and Isarkies. The new BVK mandate is managed by Universal-Investment in Luxembourg. Further acquisitions are planned.
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