Invesco Real Estate has completed the acquisition of The Fort Shopping Park in Birmingham, England, in partnership with George Capital. The asset was acquired from a consortium of institutional investors including Nuveen Real Estate, CBRE Global Investors, Aberdeen Standard Investments and M&G Real Estate.
The acquisition is the seventh for Invesco’s European Value-Add Fund II, a discretionary vehicle with €1.4 billion ($1.6 billion) of investment capacity. The Pan-European fund invests across property sectors (logistics, residential, office, retail and hotels), with an emphasis on assets poised to benefit from post-COVID-19 structural changes and recovery.
The Fort is positioned on a 29-acre site. It is the dominant retail park in Birmingham and provides more than 300,000 square feet of retail space.
Miles Skinner, director – U.K. transactions at Invesco Real Estate, said, “The U.K. retail warehouse park market has remained resilient despite the cha
