Invesco Real Estate, the global cross-border property investment manager, has invested €75m into the UK and French markets.
The firm has acquired an office in Edinburgh and an extension project for an existing logistics property in Orléans, France. The investments have been made by iii-BVK Europa-Immobilien-Spezialfonds, a fund managed on behalf of German pension plan, Bayerische Versorgungskammer, since 2000.
In Edinburgh, the asset is New Uberior House and Princes Exchange, which Invesco has acquired for around €65m. The Crown Estate is the seller.
The property was developed in 2000 and is currently let to The Bank of Scotland, a wholly owned subsidiary of the Lloyds Banking Group, with 16.5 years remaining on the lease.
In Orléans, approximately 130 km southwest of Paris, the fund’s existing property Boigny sur Bionne is to undergo a €10.5m extension project, which will see the logistics building increase its capacity by approximately 20,000 square metres to 62,000 square metres.
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