Invesco Real Estate’s Acquisition of the Fort Shopping Park in Birmingham, UK

Cadwalader has advised Invesco Real Estate on the deal.

Invesco Real Estate finalized its acquisition of the Fort Shopping Park in Birmingham, UK. The financing was funded by Tristan Capital Partners’ TIPS One Income Plus Real Estate Debt Fund, which provided £44m of senior debt to Invesco.

Through the acquisition, Invesco will take control of the 301,070 sq ft retail park, which is based just on the outskirts of Birmingham. Anchor tenants of the retail park include Primark, Next, JD Sport and Boots. In a retail format that has performed strongly through the pandemic, some of Invesco’s key operational focuses for this retail park over the coming years include repurposing smaller units for food and leisure operators, as well as further optimisation of the tenant mix (such as urban logistics and click and collect formats).

Invesco Real Estate (IRE), a global real estate investment manager, invests in direct property and publicly-traded real asset securities, and has a 38-year investment track record.

The Cadwalader team was led by London Real Estate Finance partner Duncan Hubbard (Picture) and included associates William Lo and Livia Li, along with Tax partner Adam Blakemore and special counsel Catherine Richardson.

Involved fees earner: Adam Blakemore – Cadwalader Wickersham & Taft; Duncan Hubbard – Cadwalader Wickersham & Taft; Livia Li – Cadwalader Wickersham & Taft; William Lo – Cadwalader Wickersham & Taft; Catherine Richardson – Cadwalader Wickersham & Taft;

Law Firms: Cadwalader Wickersham & Taft;

Clients: Invesco Real Estate;