Union Investment in JV con GARBE acquisisce due asset logistici in Germania

Union Investment, a Hamburg-based real estate investment manager, and GARBE Industrial Real Estate, one of the leading specialists for logistics and industrial properties in Germany and elsewhere in Europe, jointly acquired two logistics assets that are located in Gütersloh and Bielefeld, respectively, and earmarked for the “UII Garbe Logistics Real Estate Fund.” The acquisition of the two single-tenant logistics properties was transacted in an off-market deal. They were sold by a joint venture between the two developers, Hagedorn Revital GmbH and BREMER Projektentwicklung GmbH. The acquired assets represent newly constructed logistics properties in well-established locations with convenient transportation access. Together, the properties have a warehouse area of around 9,140 square metres and are already let entirely to two high-net-worth logistics firms. The weighted average remaining lease term (WAULT) exceeds 13 years. The combined selling price approximated 35 million euros.

The UII Garbe Logistics Real Estate Fund 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. Together with Union Investment, GARBE Industrial Real Estate will handle the investment management as well as the marketing, the property management and the asset management for the fund via its integrated platform.

Source : GARBE.