Invesco Buys London Property on Behalf of German Fund
Invesco Real Estate (IRE) has acquired a London office property on behalf of the iii-BVK Europa-Immobilien-Spezialfonds, an institutional real estate fund of Bayerische Versorgungskammer (BVK), which IRE has managed since 2000. IRE purchased 107 Cheapside in the City of London for £124 million (€153 million).
“Cheapside is considered to be one of the City of London’s most sought after office and retail locations as well as being the City’s main retail thoroughfare,” says Rob Johnston, IRE’s senior director, UK Transactions. “The area has benefited from significant improvement in the past five years with the completion of a number of major development and refurbishment projects, further enhancing its re