Invesco Real Estate (Invesco) has acquired a 156,000 m2 site in Hainichen, south of Dresden, in Germany, to develop two sustainable logistics warehouses in partnership with project developer Fuchs Immobilien.
The project - named LZM - Logistics Centre Central Saxony – is expected to be completely by the end of the year. In total, the two facilities will offer over 73,000 m2 of logistics units targeting DGNB Gold certification.
The acquisition of the plot was carried out for Invesco’s European Value-Add Fund II2.
Felix Richter, director - Transactions, Invesco, said: ‘Currently there are no speculative logistics developments along the A4 between Chemnitz and Dresden even though there is very high demand for high-quality units in the region. We are delighted to be working with Fuchs Immobilien on this new landmark ESG-project which offers a highly attractive value-add profile for our investors. High energy efficiency, state-of-the-art equipment, sustainable construction and employee well-being are the core elements of the new logistics location in the middle of Saxony.’
