GARBE Industrial Real Estate GmbH (“GARBE”), one of the leading specialists for logistics and industrial properties in Germany and elsewhere in Europe, raised approximately 400 million euros in equity among German and international investors for its investment fund, “GARBE Logistics Real Estate Fund Plus III” (“GLIF+III”). The Luxembourg special AIF (SICAV-RAIF) without maturity is an Article-8 fund with a manage-to-ESG strategy. With a planned investment volumes of five billion euros, it is GARBE’s largest pan-European fund for institutional investors to date.
It marks a plausible continuation of the company’s European growth strategy. The new logistics fund invests in established logistics sites across Europe as well as in selected growth regions, in some cases pursuing value-add and development strategies in addition to its main core-plus strategy. Its seed portfolio consists of 22 assets with an investment volume of more than 650 million euros and about 400,000 square metres of lettable area. Located in Germany (21) and Poland (1), the properties show an occupancy rate of 95 percent and a WALT of more than ten years. Meanwhile, over one billion euros worth of assets remain in the pipeline for GLIF+III. A second closing is therefore planned before the end of this year.
Christopher Garbe, Managing Partner of GARBE, commented: “We set up the GLIF+III during a very challenging market cycle. On the part of our clients, it is thus a remarkable sign of confidence in the logistics real estate market, in the fund strategy and in the competencies of GARBE as leading manager and developer of logistics real estate in Europe.” Garbe went on to say: “This represents a strategic milestone, and is the result of our active European expansion strategy. The GLIF+III combines our entire management competence while opening our platform up to international institutional investors.”
Source: garbe-industrial.de on the 13th of July