Garbe Industrial Real Estate has acquired a portfolio of 16 cold chain logistics halls in Germany for a private investor from the Doblinger Group.
The premises, previously long-term rental properties, are worth over €240m and form a network of strategic importance for Germany's frozen food logistics industry. The transaction was financed by Helaba and AVWL.
"By purchasing the cold chain logistics halls, we are investing in the future of the fresh food logistics market, which is gaining strategic importance owing to the increasing trend towards online food retail", says Christopher Garbe, managing director of Garbe Industrial Real Estate. “This transaction reaffirms Garbe’s good access to the market allowing it to source and procure profitable investment opportunities for its customers, even in competitive markets. We thank all those involved for their professional collaboration.”
Garbe Industrial Real Estate received legal and tax-related support from Greenberg Traurig and HLB Stuckmann, and the seller from Arnecke Sibeth solicitors in Munich. AVWL was supported by Clifford Chance.
With this transaction, Garbe Industrial Real Estate now own property worth €2bn and more than 2.6 million m² of leasable area.
