GARBE Industrial Real Estate has acquired two logistics properties located in Dresden-Ottendorf and Munich-Karlsfeld for its institutional German fund, “GARBE Logistikimmobilien Fonds Plus II” (GLIF+ II). Taken together, the acquired properties have a gross lettable area of around 21,800m². They are located in established business areas and fully occupied. Their main tenants include Logwin Solutions Deutschland, a provider of contract logistics solutions, and GELOS Getranke Logistik & Gastronomie. The weighted average lease term (WAULT) is around 4.7 years. It was agreed not to disclose the selling price.
Jan Philipp Daun, Head of Investment Management at GARBE Industrial Real Estate, commented: “We are glad we managed to acquire these two assets at attractive prices in the current market environment. The established locations in combination with their blue-chip tenants who are loyal to their locations will ensure stable long-term cash flows, in our opinion. In addition, the property in Dresden-Ottendorf could potentially be expanded because it includes undeveloped plot sections.”
Ute Jurgensen, Team Head Portfolio Management at GARBE Industrial Real Estate, added: “The two logistics assets we just acquired perfectly match the fund strategy of our fund, GARBE Logistikimmobilien Fonds Plus II. At the same time, it is great to see we wasted no time investing the fund capital.”
