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Garbe acquires logistics portfolio totalling 123,000 m²

Garbe Industrial Real Estate GmbH just acquired a portfolio of four logistics assets for its institutional German fund, “Garbe Logistikimmobilien Fonds Plus” (“GLIF+”). Three of the properties are located in Germany, specifically in the towns of Hof, Nohra and Münster, while the fourth one is located in the Austrian capital Vienna. Among the main tenants are largely blue-chip logistics and retail companies loyal to the location, including H. Gautzsch, Weiss Lager- u. Speditionslogistik, Sonepar, and AW-Logistikcenter. The acquired assets have a combined lettable area of around 123,000 m², and are almost fully occupied. The weighted average lease term (WAULT) is around six years. The properties were sold by UBS Real Estate. It was agreed not to disclose the selling price.
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“The four logistics properties are located in fast-growing macro-locations, and all of them come with superior infrastructure access. This, together with the fact that they are occupied by high-net-worth tenants, ensures a stable long-term cash flow. The four logistics properties perfectly complement the GLIF+ portfolio therefore. In fact, the portfolio just acquired means that the GLIF+ fund is almost fully invested now,” commented Jan Philipp Daun, Head of Investment Management at Garbe Industrial Real Estate.

“The fund’s double-digit performance demonstrates that our integrated-platform approach—property, asset and fund management provided as a one-stop service—works amazingly well. As a result of the smash success of GLIF+, the placement of the successor fund, GLIF+2, was off to a very successful start in 2020,” added Christopher Garbe, Managing Partner of Garbe Industrial Real Estate.

Legal consultancy in conjunction with the transaction was provided to the company by the international business consulting firm of Greenberg Traurig while Drees & Sommer handled the technical due diligence.