TD News International
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.
Subscribers to our premium service have access to this article in full as well as to an additional 450,000+ news items: all filterable by topic, company, asset class, city or keyword. In TD Premium you can search for investment deals, leases, current project developments and company news with pinpoint accuracy.
TD Premium is Germany's leading property information tool that interconnects news, transactions, project data, market and company information in a unique and flexible system.