Garbe Industrial Real Estate has bought a portfolio of four logistics assets for its German fund and is planning to launch a successor fund.

The GARBE Logistikimmobilien Fonds Plus (GLIF+) has paid an undisclosed sum to acquire the fully-leased assets from UBS Real Estate. 

Three of the acquired properties are located in the German towns of Hof, Nohra and Münster, while the fourth one is located in the Austrian capital Vienna. The acquired assets have a combined lettable area of around 123,000sqm.

Following the deal, the GLIF+ fund is now almost fully invested, the manager said, adding that a successor fund, GLIF+2, is underway.

Jan Philipp Daun, head of investment management at Garbe Industrial Real Estate, said: “The four logistics properties are located in fast-growing macro-locations, and all of them come with superior infrastructure access.

“This, together with the fact that they are occupied by high-net-worth tenants, ensures a stable long-term cash flow.”

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