The acquisition has been completed by Invesco Real Estate Europe Fund III – SCSp (Europe III), the third European value-add strategy in succession for the firm. The property is being developed in partnership with Propel ONE, a Vienna-based specialist in the development of prime logistics assets and will be the third project in this set-up. The project in Langenselbold is part of a seed portfolio of several individual plots in prime German-speaking markets for the speculative development of small-size logistics and light industrial warehouses. 

The facility will meet the highest sustainability and energy efficiency standards, aiming to target DGNB Platinum certification. Heat pump systems will serve as the main source of energy, supplemented by green roofs and solar panels, smart meters and LED lighting, among other things. 

Langenselbold is located East of Frankfurt am Main, close to Hanau, in the Greater Rhine-Main region. The region has a dynamic, diverse and highly technical economy central to Germany’s overall economic performance. The region also supports a first-class transport system due, in part, to the location of Frankfurt Airport, a major hub for international trade. 

Felix Richter, Co-Head of Transactions Germany & Austria, Invesco Real Estate, said: “We are happy to announce that Europe III was able to secure this plot of land in a very attractive structural set-up. With the receipt of the building permit in such a short period of time, the target is to be able to complete the development within the next 12-15 months. The two buildings and in total four lettable units allow a maximum of flexibility regarding letting the c. 18,000 sqm. We feel comfortable that both the high quality & sustainability of the buildings we will develop as well as the unit sizes that are planned will meet the current demand of potential tenants.”

You can now read the full press release at the link below