GARBE acquires four logistics assets in Germany and Austria

GARBE Industrial Real Estate GmbH has acquired a portfolio of four logistics assets for its institutional German fund, GARBE Logistikimmobilien Fonds Plus (GLIF+).

The properties were sold by UBS Real Estate. It was agreed not to disclose the selling price.

Three of the properties are located in Germany, specifically in the towns of Hof, Nohra and Münster, while the fourth 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 leasable area of around 123,000 square meters (1.3 million square feet), and are almost fully occupied. The weighted average lease term is around six years.

Jan Philipp Daun, head of investment management at GARBE Industrial Real Estate, said, “The four logistics properties are located in fast-growing macro-locations, and all