European real estate group Garbe is expanding into the US through a partnership with Berkeley Investments.
Garbe said it has acquired a 50% stake in the Boston-based real estate investment and development firm to create a joint platform targeting expansion across the US industrial, logistics, life sciences and multifamily markets.
Financial details were not disclosed.
The venture, which will initially target investment opportunities in the Boston region, builds on a relationship between Garbe shareholders and Berkeley spanning more than two decades.
Garbe said the partnership represents a natural next step in their collaboration, as its existing shareholder base has invested in the Boston market alongside Berkeley for more than 20 years.
Christopher Garbe, managing partner of Garbe, said: “Expanding into the US through this joint venture with Berkeley Investments is a landmark step in Garbe’s evolution as a global real estate platform. Berkeley’s entrepreneurial culture, vertically integrated capabilities and deep expertise in life sciences and urban residential and mixed-use development are a natural complement to our strengths across the beds, sheds and infrastructure verticals.
“This partnership brings together two firms that share an entrepreneurial, alpha-driven approach to real estate – and a mutual shareholder history that underpins the trust and alignment at the heart of this venture.”
Young K Park, president and founder of Berkeley Investments, said: “For over 30 years, Berkeley has been built on a simple conviction – that innovative design and deep local market knowledge create the most enduring value in real estate. Garbe shares that philosophy.
“Their track record of building a leading European platform through institutional investment and entrepreneurial development mirrors what we have done in Boston. Together, we can bring that shared approach to a much larger canvas across the US.”
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