Munich – Invesco Real Estate (IRE), a subsidiary of Invesco Ltd. that specialises in worldwide property investments, has sold an 84,500-square-metre logistics property in Bondorf, south-west of Stuttgart, to the Rewe Group. The retail chain was already one of the facility’s tenants and plans to extensively upgrade it. The aim is to make even greater use of the hub for regional distribution, which requires an expansion of the logistics capacity. The property was acquired by Invesco in 2016 and has now been sold on behalf of one of Invesco’s European strategies in an off-market transaction.
Details of the transaction were not disclosed.
A CMS team headed by partner Dr Oliver Thurn advised Invesco Real Estate on all legal aspects of the transaction. The team headed by Munich-based CMS partner Thurn provides Invesco Real Estate with legal support on a regular basis, and the company has been a CMS client for many years. The team also recently advised on the sale of a logistics property in Saxony to a fund managed by Hines.
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