Garbe Industrial Real Estate GmbH has acquired a portfolio of four new-build logistics properties for two institutional logistics special AIF that are managed by Garbe from Goodman. It was agreed not to disclose the selling price.
The four new-build logistics properties are situated in the towns of Regensburg, Beselich and Flieden, among other well-established logistics locations. Three of the four properties are already completed.
Among the main tenants are internationally operating high-net-worth companies from the sectors of logistics, e-commerce and filter systems. The acquired assets have a combined lettable area of more than 110,000 square metres, and are fully occupied except for the one in Regensburg. The weighted average lease term (WAULT) is more than nine years.
Jan Philipp Daun, Head of Investment Management at GARBE Industrial Real Estate, commented: “Demand for modern logistics facilities in Germany remains strong. We are therefore pleased to report that we acquired these four modern new-build logistics properties in well-established locations.” Daun went on to say: “The long-term leases in combination with strong tenant covenants ensure a permanently stable cash flow, making these assets the perfect investment for institutional players.”
Legal consultancy in conjunction with the transaction was provided to GARBE by the international business consulting firm of Hogan Lovells while CBRE handled the technical due diligence.