Invesco Real Estate has acquired a fully-occupied logistics park in north Lisbon, on behalf of one Bayerische Versorgungskammer (BVK) for its first logistics purchase in Portugal.
The logistics park, acquired off-market, comprises 78,000 square meters (839,585 square feet) divided into six warehouses and two ready-to-build additional plots of land. It is located 14 kilometer (9 miles) away from Lisbon city center and 9 kilometer (6 miles) from the airport.
The asset is fully occupied.
“With a significant undersupply of high-quality logistics assets due to the physical constraints of the city, the strong resurgent economy in Portugal and a continued increase in e-commerce, this investment offers an attractive opportunity for our entry into the Portuguese market,” said Fernando San Juan Monje, a director in charge of Invesco’s transactions in Spain.
Steffen Pilopp, a senior director at Invesco in charge of fund management, added, “Portuguese logisti
