Invesco Real Estate Invests in Germany and Sweden
Invesco Real Estate (IRE) has made a series of acquisitions in Germany and Sweden for a total of e206 million.
IRE acquired two logistics properties for €83 million on behalf of one of its pan-European fund mandates. One property was a 29,500-square-metre logistics centre in Frechen, Germany, let to Antalis GmbH; the other was a 36,000-square-metre logistics unit in Norr-köping, Sweden, let to Stadium, a sports retailer.
“The logistics sector remains popular with investors as it plays a useful role in providing relatively strong and stable income returns within a portfolio. We therefore expect yields to remain broadly stable for units let on long leases to good covenants across many European markets,” says Paddy Bingham, IRE’s director – fund management.
On behalf of an institutional separate account, IRE