Garbe’s raises additional €200m for open-ended European logistics fund

Garbe Industrial Real Estate’s evergreen European core-plus logistics fund has raised a further €200m in a second close and has acquired additional properties.

Garbe Industrial Real Estate said its Garbe Logistics Real Estate Fund Plus III fund (GLIF III), which had a €400m first close in June, has now raised €600m in total from German, European and Asian investors.

GLIF III, an open-ended Article-8 vehicle with a manage-to-ESG strategy, expects to have another closing before the end of this year, the manager said.

The fund, which has a core-plus investment strategy, is supplemented by property developments and value-add properties.

Christopher Garbe, a managing partner at Garbe Industrial Real Estate, said: “Overall, we received nearly €600m in capital commitments by German and international investors from elsewhere in Europe and from the Asian region.

“This enabled us to place a fund with a pan-European investment focus among international investors. As a result, we have seriously expanded our investor base, and are now in an even better position to operate in the market.

“This marks an important step for Garbe in its effort to establish itself as a leading pan-European manager for industrial, logistics and technology real estate.”

Garbe said GLIF III has recently added two logistics properties in Germany worth €170m to its portfolio, adding that GLIF III’s portfolio now comprises 24 assets worth €720m in total.  GLIF+III expects to invest €5bn in assets, making it Garbe’s largest pan-European institutional fund, to date.

Peter Bartholomäus, member of the management board of Garbe Industrial Real Estate, said: “The logistics sector is booming and marked by an unchecked demand for floor space. Buildings are particularly important for the growing warehousing needs, so as to ensure the integrity of supply chains. This makes immediate sense to our investors.

”We are therefore quite confident that we can move ahead with yet another closing before the end of this year, not least because our project pipeline permits rapid capital calls despite the keen demand for logistics real estate on the market.”

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