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Garbe buys assets for German industrial fund, plans successor fund

Garbe Industrial Real Estate has bought a portfolio of four logistics assets for its German fund and is planning to launch a successor fund.

The GARBE Logistikimmobilien Fonds Plus (GLIF+) has paid an undisclosed sum to acquire the fully-leased assets from UBS Real Estate. 

Three of the acquired properties are located in the German towns of Hof, Nohra and Münster, while the fourth one is located in the Austrian capital Vienna. The acquired assets have a combined lettable area of around 123,000sqm.

Following the deal, the GLIF+ fund is now almost fully invested, the manager said, adding that a successor fund, GLIF+2, is underway.

Source: realassets.ipe.com on 12 January (https://realassets.ipe.com/news/garbe-buys-assets-for-german-industrial-fund-plans-successor-fund/10049971.article)