Garbe buys two logistics assets in northern Germany

GARBE Industrial Real Estate has just acquired two logistics properties in northern Germany for its German institutional fund GARBE Logistikimmobilien Fonds Plus (“GLIF+”). The purchased assets with their combined gross lettable area of around 63,000 square metres are situated in Norderstedt, a well-established location in the Hamburg metro region. The two logistics properties are fully tenant-occupied by companies with a long tradition in textile logistics. The weighted average lease term is around seven years.

“The most recent acquisitions in northern Germany perfectly match the investment profile of our German institutional fund because of their specific locational qualities and the loyalty to location shown by the blue-chip tenants occupying them," said Christopher Garbe, Managing Director of GARBE Industrial Real Estate GmbH. Cushman & Wakefield acted as consultants during the transaction. Eversheds Sutherland provided legal counsel while the technical adviser was Enviro.