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Brookfield, GARBE to recapitalize standing assets logistics portfolio in Germany and Austria
Transactions - JULY 2, 2024

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Brookfield, GARBE to recapitalize standing assets logistics portfolio in Germany and Austria

by Released

Brookfield, through its real estate solutions strategy, has acquired a majority interest in a portfolio of seven industrial logistics assets owned by GARBE Industrial Real Estate (GARBE). In addition, they will form a joint venture with GARBE to invest more than €100 million ($107 million) of equity in value-added pipeline opportunities in select European markets. Terms of the transaction were not disclosed.

The 150,000-square-meter (1.6 million-square-foot) standing asset portfolio consists of high-quality, new-build distribution warehouses, with six assets located in Germany and one in Austria. The core properties benefit from strong transport links and ESG credentials and are fully leased to strong corporate and government-backed tenants. GARBE will continue to own a relevant interest in this portfolio. The development joint venture will be seeded by two sites in Germany, currently owned by GARBE, who will continue to manage both the standing and development assets.

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