Invesco Real Estate has acquired a 24,000-square-meter (258,334-square-foot) greenfield plot in Moosburg, located north of Munich Airport, for the speculative development of a 11,500 square-meter (123,785-square-foot) class A logistics facility.
The acquisition and development of the site will be the sixth investment for the Propel Logistics Platform, a joint venture between Vienna-headquartered logistics specialist Propel and Invesco Real Estate’s Europe Fund III – SCSp (Europe III), the third European value-add strategy in succession for the firm.
The Moosburg site is in the Greater Munich area, one of Germany’s most supply constrained and sought-after logistics markets, characterized by strong occupier demand and limited availability of modern stock. The plot was secured off-market by Propel.
The asset will incorporate a range of environmental, social and governance (ESG) initiatives, including heat pumps, photovoltaic (PV) panels, electric vehicle (EV)
