Invesco Real Estate has expanded its European logistics portfolio by acquiring a 27,500 m2 metre land plot in Bruck an der Leitha, Austria, for its Europe III fund.
In partnership with local developer Propel Industrial, the firm will construct a 15,000 m2 logistics facility on the site located 30 kilometers east of Vienna.
Scheduled for completion in late 2025, the property will be divided into three units and meet stringent sustainability standards, targeting the ÖGNI Gold certification. Key green features include solar panels, smart technology, and efficient lighting.
Strategically located near Vienna International Airport with convenient motorway access, the site benefits from strong demand for logistics space in the Vienna region, where vacancy rates are exceptionally low.
Invesco Real Estate has expanded its European logistics portfolio by acquiring a 27,500 m2 land plot in Bruck an der Leitha, Austria, for its Europe III fund.
In partnership with local developer Propel Industrial, the firm will construct a 15,000 m2 logistics facility on the site located 30 km east of Vienna.
Scheduled for completion in late 2025, the property will be divided into three units and meet stringent sustainability standards, targeting the ÖGNI Gold certification. Key green features include solar panels, smart technology, and efficient lighting.
Strategically located near Vienna International Airport and with convenient motorway access, the site benefits from the strong demand for logistics space in the Vienna region, where vacancy rates are exceptionally low.
Felix Richter, co-head of Transactions Germany & Austria, Invesco Real Estate, said: “We are excited to kick-off our second logistics development in Austria within a short time and to further expand our footprint in Austria, a market with excellent logistic performance indicators.’
Armen Gevorkian, CEO at Propel Industrial said: “We have a strong conviction for the Vienna Logistics market and combine our local expertise with the Invesco Real Estate capabilities to further grow our exposure and cadence within the sector. We are preparing further acquisitions within this partnership, which strategically will be across high in-fill locations and crucial logistics areas in Austria and Germany.’
Kevin Grundy, managing director – Fund Management, Europe, Invesco Real Estate, said: ‘The Bruck investment is just the beginning of a pipeline of future-proofed logistics facilities that we will be creating together for Europe III.’
Invesco Real Estate’s Europe III, which held its first close with €400 mln, is targeting up to €1 bn of investor commitments and builds on the success of two previous value-add funds.
