Successful acquisitions for Garbe Fonds
Garbe Industrial Real Estate GmbH has successfully acquired two more properties for its Garbe Logistik Immobilien Fonds Plus (GLIF +). In addition, a new lease agreement for a property in the fund’s portfolio has been signed. The acquisitions in Essen and Worms are logistics properties from the core plus area with a total volume of around 52 million euros.
The new acquisition in Essen, located in an urban location on the northern outskirts, has excellent transport links within short distances of several motorways in the Ruhr area. The logistics property featuring a total area of 126,000 square metres is equipped as a hanging goods warehouse over several levels and is currently used as a large warehouse for fashion garments. On an area of 45,000 square meters, some 68 million garments are logistically processed annually by a service provider for several companies in the textile industry. The Logivest GmbH acted as a consultant in this acquisition. Lohnbach Investment Partners, Munich, the previous asset servicer for the property, were advising the seller.
A modern logistics centre in Worms is the second purchase for the GLIF +. The 54,000-square-metre multi-user property, equipped with more than 70 gates for incoming and outgoing goods as well as a siding, is located on more than 100,000 square metres of land in a commercial area north of Worms and still has room for possible extensions. The fully leased logistics property is currently providing services for the processing of consumer goods logistics. The site’s transport infrastructure is equally excellent, with connections to three motorways. The seller S + T Bundeszentrale Selex + Tania Handels-AG, headquartered in Offenburg, a member of the MARKANT Group, was advised on the transaction by Jones Lang LaSalle.
A 20,600-square-metre logistics centre in Apfelstädt, southwest of Erfurt, which is part of the GLIF + portfolio, was newly let by Garbe Industrial Real Estate GmbH. The new tenant, AW-Logistikcenter GmbH & Co. KG, based in Würzburg, is part of the XXXL group of companies and specializes in the acceptance, storage, and provision of furniture and kitchens for online trading. In Apfelstädt, the furniture retailer handles the logistics for the e-commerce business. The Erfurt region is regarded as a highly interesting logistics location both nationally and internationally, with excellent transport links. The logistics centre in Apfelstädt is within sight of the A 4 motorway (Bad Hersfeld – Dresden). The A 71 motorway, which connects Saxony-Anhalt with Bavaria, is also just a few kilometres away.
“With these current acquisitions, the GLIF + now has a total of eight properties – and we continue to be on the lookout for modern logistics facilities, even with short lease terms,” says Sonja Ebeling, head of investment management at Garbe Industrial Real Estate.
The GLIF + offers institutional investors an attractive risk-return profile through the binary investment strategy. On the one hand, the fund relies on properties from the premium segment with stable capital returns from the leasing. On the other hand, Garbe Industrial Real Estate’s expertise as an asset manager is harnessed to invest in properties in the core plus segment with more attractive returns. The capital raised so far is almost completely invested, and further investment properties are currently under review. The fund can still be subscribed to. Says Sonja Ebeling: “With this orientation, we meet the investors’ interest. We are currently holding numerous discussions and are pleased about the positive response from other investors regarding this vehicle.”