Invesco Real Estate has acquired a cluster of warehouses in Bruchsal, Germany, on behalf of Invesco Real Estate Europe Fund III – SCSp (Europe III), the third European value-add strategy in succession for the firm.
In partnership with Propel Industrial, the Vienna-based developer of prime logistics assets and an established partner for Invesco Real Estate in the European logistics sector, the 80,000 square metres brownfield site will be fully redeveloped. The project offers significant upside potential, particularly concerning value-creative asset management strategies.
The existing industrial buildings on the site, constructed between 1979 and 2002, no longer meet today's standards for modern industrial use and warehousing. The business plan envisions the development of approximately 45,000 square metres of high-quality, sustainable industrial space that will meet the requirements of future users.
Source: europe-re.com on the 22nd of January 2025
https://europe-re.com/invesco-bought-warehouses-in-bruchsal-de/73899