IVG Garbe Logistik Fund acquires two new properties

News 13/01/2015

Frankfurt am Main / Hamburg, Germany – IVG Garbe Logistik Fund invests a total of €25.7m in two new logistics properties. The sites are situated in Gernsheim, to the south-west of Darmstadt, and in the Mainfrankenpark industrial estate in Dettelbach close to Würzburg.

Set up in 2012 by IVG and Garbe Logistic AG, the IVG Garbe Logistik Fund invests exclusively in core logistics real estate situated in prime locations in Germany. The new warehouses in Gernsheim and Dettelbach meet this requirement. They also score well on letting potential and the credit worthiness of prospective tenants. The fund aims to generate a total of around €400m.

The facility in Gernsheim is a new development and has a total internal floor area of 21,700 sq m. The entire building is held on a long-term lease and used as a distribution centre for bulky health and beauty products. The warehouse has a floor loading capacity of six tonnes per sq m. The site itself measures 39,000 sq m and has parking space for 50 cars and seven lorries. Via the A 67 Viernheim – Rüsselsheim and the A 5 Frankfurt – Basel, the site offers excellent access to Germany’s extensive road and motorway network. The vendor is Greenfield Development, a Düsseldorf-based investor and developer of logistics real estate. The legal services of Taylor Wessing were used for the transaction. ES Enviro Sustain, a real estate advisory and consulting firm, was largely responsible for the structural survey of the building.

The IVG Garbe Logistik Fund acquired the 6,500 sq m distribution centre in Dettelbach from Adler Immobilien Investment which is headquartered in Viernheim, Germany. The facility serves as a cross-dock distribution centre and has a total of 54 loading doors along both sides of the building. A logistics provider holds the building on a long-term lease, offering overnight shipments of spare parts from this central location to clients operating in the automotive and life sciences sectors. The Mainfrankenpark industrial estate is situated close to the Biebelried intersection where the A 7 Flensburg – Füssen and the A 3 Emmerich – Passau meet. The acquisition of the Dettelbach property was handled by estate agents Jones Lang LaSalle. The legal advice of law firm Latham & Watkins and the consultancy services of Arcadis were also made use of.
With these two new logistics facilities the fund has now acquired six properties totalling some €125m in value. More will follow in the next few months.