Travers Smith LLP has advised Invesco Real Estate, a global real estate investment manager, on the formation of Space Industrial, a joint venture established together with Marchmont Investment Management to build a £500m multi-let industrial portfolio in the UK.
The new platform will acquire, manage and reposition multi-let assets, targeting under-rented multi-let industrial estates in last-mile locations close to key urban centres. The portfolio has been seeded with four assets in Milton Keynes, Sheffield, Manchester and Pershore.
The Travers Smith team was led by Private Equity & Financial Sponsors Partner Tom Hartwright with support from Associate Sam van Besouw. Real Estate advice was provided by Real Estate Partner Alex Millar and Senior Counsel Catherine O'Driscoll.
