Union Investment and GARBE Industrial Real Estate, one of the leading specialists for logistics and industrial properties in Germany and Europe, jointly acquired the first logistics property for their “UII Garbe Logistik Fonds” investment fund. Seller is the Karimpol Group, a privately held property developer active in Eastern and Central Europe for over 30 years. It was agreed not to disclose the financial details of the transaction.
The property is located in an industrial park in the north-west part of Senec, a city roughly 25 kilometres north-east of the Slovak capital of Bratislava. Other logistics facilities that are largely used for distribution and light industrial purposes are located in the immediate vicinity. Constructed in 2019, the logistics property occupies an established location with convenient transport links. Overall, the property provides 32,400 square metres of warehouses space plus around 2,200 square metres of office space. Among the main tenants is the globally active logistics service provider, DSV. The property’s occupancy rate is around 96 percent.
The “UII Garbe Logistik Fonds” vehicle was jointly launched by Union Investment and GARBE Industrial Real Estate in 2020. It is an institutional fund that invests in European logistics real estate. GARBE Industrial Real Estate will handle the fund’s lettings, property management and asset management via its integrated platform while taking care of the investment management together with Union Investment.