GARBE Industrial Real Estate Buys Light-Industrial Property in Bisingen from property team AG

News 27/01/2022

Hamburg, 27 January 2022. GARBE Industrial Real Estate just acquired a light-industrial property on behalf of its logistics property fund, GARBE Logistikimmobilien Fonds Plus II (“GLIF+II”) within the framework of an asset deal. The property is located at Conrad-Röntgen-Strasse 4 in Bisingen, a town in the middle of Baden-Württemberg. It was completed in 2020, and is occupied by the technology company Oerlikon Metaplas on a very long-term lease (WAULT of more than 18 years). The plot size equals about 13,900 square metres, while the total lettable area is about 6,700 square metres. The lettable space is split into about 4,800 square metres of warehouse and light manufacturing area, and about 1,900 square metres of office space. The property was sold by developer “property team AG,” and it was agreed not to disclose the selling price.

Pascal Reck, investment manager at GARBE Industrial Real Estate commented the acquisition: “We are glad we had the opportunity to acquire this attractive property within the framework of an off-market deal from property team AG for our GLIF+II institutional fund. Oerlikon Metaplas, a specialist for surface treatments, operates its new competence centre here, which includes a fully automated coating facility.” Reck added: “Merits of the light industrial property itself include its high building quality and excellent specifications, a high potential for alternative use, and its convenient transportation access.”

Torsten Martens, a member of the management board of property team AG, commented: “Having spent several years searching for the right site and developing the overall project within the framework of a partnership model with Oerlikon Metaplas GmbH, the time had come to hand the completed property over to an asset holder focused on long-term management. With GARBE, we managed to interest one of the biggest investors for manufacturing and light-industrial properties in Germany in this investment opportunity.”

The competence centre is located inside the Bisingen-Nord commercial and industrial park directly next to the four-lane B27 federal route, which provides access to the A81 motorway via a 15-minute commute. The A81 motorway connects the site to Stuttgart in the north and to the Lake Constance region and Switzerland beyond in the south.

During the transaction, GARBE received legal consultancy from trûon Rechtsanwälte PartmbB, tax advice from COUNSEL Treuhand GmbH, while WSP Deutschland AG handled the technical due diligence. The “GARBE Logistikimmobilien Fonds Plus II” is an open-ended real estate special AIF with fixed investment rules, and is administrated by the INTREAL third-party AIFM.