Invesco to invest in €1bn logistics projects with LCP
US-based real estate investor Invesco will invest in developer and asset manager Logistics Capital Partners, facilitating the development of LCP’s €1bn (£890m) pipeline.
The initial investment will create the potential for €1bn in new development projects over the next three to five years.
The agreement includes scope for “significant additional funds” to be invested in the future to further expand the pipeline.
US-based real estate investor Invesco will invest in developer and asset manager Logistics Capital Partners, facilitating the development of LCP’s €1bn (£890m) pipeline.
The initial investment will create the potential for €1bn in new development projects over the next three to five years.
The agreement includes scope for “significant additional funds” to be invested in the future to further expand the pipeline.
Bert Crouch, managing director of portfolio management at Invesco, said: “LCP’s track record, deep pipeline, and strong relationships with some of the biggest international and domestic retailers, as well as the team behind the delivery of the strategy, makes this an attractive investment for Invesco’s strategic investment programme.
“It also diversifies our investors’ portfolio within the pan-European logistics sector while increasing the opportunity for long-term, secure income and attractive total returns for our clients.”
Invesco has a long history in the European logistics markets. As at 30 September, it had invested around €1bn in the sector.
It has €55.9bn in real estate assets under management, 489 employees and 21 regional offices across the US, Europe and Asia, including in London.
The firm was established in 1983 and has been investing in “core, value-add and opportunistic real estate strategies” since 1992.
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