Garbe launches logistics fund, holds first close
Garbe Industrial Real Estate, based in Hamburg, Germany, has launched Garbe Logistik Immobilien Fonds+, a core-plus investment fund that will focus on the logistics sector in Germany.
A first close was held eight weeks after the fund launched, and the capital is already fully invested in a portfolio of six properties at four locations. A second equity close is planned for the near future.
“The first equity close of our new logistics fund has been completed, and our investors’ capital has been fully invested within a short space of time. This means our clients get an attractive rate of return right from the first day,” said Sonja Ebeling, head of investment management at Garbe Industrial Real Estate, in a statement.
The fund was launched together with investor KVG Institutional Investment Partners. The acquisition was financed by HSH Nordbank, and Hamburg-based Chatham Partners provided legal advice.