Invesco Real Estate buys three European office assets for €140m
Invesco Real Estate has bought three office properties in Italy, Czech Republic and Germany for €140m on behalf of a separate account client.
The real estate manager said the three class-A office properties located in Milan, Prague and Munich, were acquired on behalf a south German pension fund.
The property in Prague comprises a multi-tenant building of 11,500sqm of office space and 1,000sqm of retail space, 140 parking spaces, terraces and storage space extending over several levels.
The Milan asset comprises around 8,500sqm and is fully let to prime office, retail and residential tenants.
The third asset is a multi-tenant office property consisting of five separate buildings with 17,800sqm located south-west of the Munich central business district.
William Ertz, a senior director at the fund management arm of Invesco, said: “We are delighted about the successful close of these acquisitions which will have the potential to further improve the diversification and performance of our clients portfolio.
“All three assets are fitting perfectly into the agreed strategy of high quality buildings, very good public transport, high and stable income combined with further growth potential.“