Invesco Real Estate (IRE) is to take over the asset management of assets within Doughty Hanson’s value-add funds.
This includes EUR533m worth of value-add assets in Spain, Italy and the UK.
In addition, the eight-person strong value-add team will now join IRE thus adding further strength to IRE’s platforms in London and Madrid, while expanding IRE’s existing platform into Milan, thus creating IRE’s eighth European office.
Andy Rofe, managing director of Invesco Real Estate, says: “I am delighted that IRE is Doughty Hanson’s choice of partner to take over what is regarded as a successful value-add business with a strong track record of investing within this sector across Europe for 14 years.”
Stephen Marquardt, CEO of Doughty Hanson, says: “Doughty Hanson’s value-add business provides a good strategic fit with IRE and I am confident that they are best positioned to continue our legacy of creating value, investing responsibly and generating returns for our existing investors, which very much complements their own values.”