Invesco Real Estate (IRE) the global real estate investment manager, has been providing real estate investment and property asset management services since 1983, first in the US and then expanding into Europe and Asia. IRE currently has US$71.3bn of assets under management around the world. In Europe the company manages 130 assets of US$7.9bn across 13 European countries. Currently IRE has c.€740m invested across CEE, both within the commercial and hotel sectors on behalf of pan-European and international investors, in pooled funds and separate account mandates.
Additional information is available at www.invesco.com
Name of the deal
Zaułek Piękna – Invesco sale
Value of the transaction (in EUR)
45 mio
Yield
n/a
Consultancy which advised Seller
Jones Lang LaSalle
Purchaser, plus brief information about the company
GLL Real Estate Partners GmbH (GLL) is a Munich based real estate fund manager group, which was formed in 2000 by 3 senior executives of HypoVereinsbank, in a joint venture with Lend Lease Corporation and Assicurazioni Generali. Today, GLL Real Estate Partners is independent and owned by the management group.
GLL invests on behalf of its investors in Europe (Central- and Eastern Europe, the United Kingdom and Western Europe), the United States of America and Latin America (Argentina, Brazil, Chile and Mexico). GLL established local offices and vast networks in these markets in order to create opportunities, preserve value and generate growth.
Additional information at www.gll-partners.com
Consultancy which advised Purchaser
n/a
Financing institution
n/a
Current occupancy level
100%
Please say why this deal should be considered for the award
As one of the largest real estate investment managers in Europe, IRE has built its reputation on being able to source attractive deals for its clients but also on being able to sell assets when the time is right and when business plans have been achieved, which is equally as important.
The sale of Zaułek Piękna is testament to Invesco Real Estate’s reputation as an active player in the CEE region. The building, built in 2005 in Warsaw’s CBD, with a GLA of 8,860 sqm is fully leased to long-term tenants, which enabled Invesco to increase the asset value over the years.
The deal confirms the continued demand among institutional investors for core assets in Poland. This demand, combined with the active management of IRE client’s investment mandate in order to achieve their investment objectives, resulted in the successful sale of the most attractive office assets in Warsaw. Simultaneously, IRE continues to have strong interest in the Polish market for its many client mandates.
