Ashurst has advised Invesco Real Estate on the purchase agreement of a 150,000 sq. m. urban plot of land located in Madrid, over which a large logistics complex will be developed on a turnkey basis in two different phases.
The acquisition of the plot of land will take place once the seller (Pavasal) ends the construction of phase I of the logistics complex. Phase II will also be developed by the seller through the relevant delegated development agreement which has already been signed subject to the condition precedent of the acquisition of the plot (and phase I of the logistics complex) by Invesco.
Ashurst has advised Invesco on the deal with a team led by Madrid-based real estate partner Ismael Fernández Antón.
Involved fees earner: Ismael Fernández Antón – Ashurst;
Law Firms: Ashurst;
Clients: Invesco Real Estate;