Union Investment acquisisce da GARBE un portfolio logistico di oltre 218 mila mq

Union Investment has acquired the Rocket portfolio from GARBE Industrial Real Estate. The logistics portfolio consists of six development projects (scheduled for completion in 2021) and two existing buildings. The properties are located in Achim, Rendsburg, Cloppenburg, Emden, Meßkirch, Kaiserslautern, Echzell and Frankenberg. The purchases are being made for two new logistics special funds launched jointly by Union Investment and GARBE Industrial Real Estate. Union Investment and GARBE will share investment management responsibility for the two pan-European funds, while GARBE will handle asset management and property management. The purchase price was not disclosed.

The transfer of rights and obligations (closing) has now taken place for six of the eight properties. For the two properties in Cloppenburg and Frankenberg, closing is scheduled for the fourth quarter of 2020.

The Rocket portfolio is distributed throughout Germany and split across six federal states. Offering a total of 218,144 sq m of space, the properties are fully let to a leading US online retailer on leases ranging from 8.5 to 20 years. The specific locations were chosen to help ensure a better, faster and more reliable delivery service in the respective regions. Seven of the eight properties are cross-dock facilities which are required for last mile delivery. They are located either close to major conurbations or in regions that are not currently regarded as logistics hotspots but which are important for reaching potential customers. All locations are very well connected to the surrounding infrastructure. The property in Achim near Bremen will be used as an e-fulfilment centre.

At the beginning of 2020, Union Investment acquired the Logistrial portfolio from GARBE Industrial Real Estate, comprising 13 existing properties and 6 development projects. Totalling some 580,000 sq m of space, this portfolio is likewise fully let.

“The acquisition of the Rocket portfolio marks another major step towards increasing the proportion of logistics properties in our holdings,” said Stephan Riechers, head of Investment Management Logistics & Light Industrial at Union Investment. The Union Investment logistics portfolio currently comprises 61 properties with a total value of around EUR 2.7 billion. The medium-term plan is to grow that figure to over EUR 5 billion. “We have 12 European national markets in our sights for future acquisitions. In addition to Germany, they include the Netherlands, France and Poland,” said Stephan Riechers.

Source  : Union Investment