GARBE Industrial Real Estate has 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 Munster, 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 123,000m² 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.
Jan Philipp Daun, Head of Investment Management at GARBE Industrial Real Estate, commented: “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.”
Christopher Garbe, Managing Partner of GARBE Industrial Real Estate, added: “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.”