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Garbe buys logistics buildings for €52mn in Worms and Essen

Garbe Industrial Real Estate has purchased two logistics properties of the risk class core+ in Essen and in Worms for €52mn. Both will go into the fund "Garbe Logistik Immobilien Fonds Plus" (GLIF+). The 126,000 sqm property in Essen is located on the northern outskirts of the city and is used as a large fashion warehouse. Logivest served as a consultant for the purchase; Lohnbach Investment acted as the previous asset servicer for the seller. The property in Worms was purchased from S+T Bundeszentrale Selex+Tania Handels-AG, which belongs to the Markant Group and was advised by JLL. The 54,000 sqm multi-user property is fully let and offers space for expansions. In addition, Garbe has now rented out a 20,600 sqm logistics centre in Nesse-Apfelstädt, Thuringia that is part of the fund: a logistics subsidiary of the XXXL Group is now handling its e-commerce business there. Including the current acquisitions, GLIF+ now has eight properties.

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