GARBE acquires GRR Real Estate
GARBE has plans to acquire GRR Real Estate. The parties have agreed not to disclose the purchase price.
The transaction creates a market-leading position in supermarkets and other essential retail real estate, especially food-anchored retail parks. GARBE Institutional Capital is taking over GRR Real Estate Management with more than 80 team members and a portfolio of approximately 500 managed assets. Through this transaction, the GARBE platform will grow the assets under management (AUM) for institutional funds and mandates by €2 billion ($2.2 billion). The 52 on-balance-sheet properties held by GRR will be acquired by GARBE Institutional Capital on behalf of an institutional fund. The business will continue to operate as an independent company within GARBE under the established GRR brand. The transaction agreement was formally signed yesterday.
“As an active real estate manager, we are expanding our organization’s resources and expertise into the retail real esta