Garbe Logistic AG acquires real estate portfolio from the Doblinger Group
News 26/10/2015
Hamburg, 20 October 2015 – Garbe Logistic AG, Hamburg, has acquired a portfolio of eleven properties for their Garbe Unternehmensimmobilien Fonds (Garbe Corporate Real Estate Funds 1 /GUNIF 1). The seller is the Doblinger Group in Munich.
The corporate properties, with a total annual rental income of approximately € 15 million and an average lease term of eight years, are situated exclusively in prime locations in the metropolitan regions of Berlin, Munich, Cologne, Hamburg and Frankfurt.
GUNIF 1 is the first specialized real estate fund of Garbe Logistic AG in the corporate real estate asset class. The fund was established together with the Investor KVG Institutional Investment Partners (2IP). Selinus Capital GmbH was responsible for raising the capital.
The subscribed capital of the fund amounts to more than € 160 million and with this acquisition it is almost fully invested. The financing bank is the Landesbank Baden-Württemberg (LBBW), Taylor Wessing acted as legal adviser for Garbe Logistic AG, and technical due diligence was carried out by Drees & Sommer.
“For us, the creation of this real estate investment product and the associated property acquisition is a natural progression of our real estate platform in the industrial and logistics sector,” says Christopher Garbe, CEO of Garbe Logistic AG. “This helps stabilize our position as a leading real estate company in these areas and allows us to offer our customers another attractive investment product in this asset class. Therefore, our gratitude goes to our investors for their trust in us and to the Doblinger Group and our partners for their very professional collaboration.”
Besides GUNIF 1, other investment products are planned for institutional investors in the industrial and logistics real estate sector in the future. Christopher Garbe: “We have a steady increase in real estate, currently valued at more than 400 million euros – with the option to place them in the next twelve months.”