German investor Garbe Institutional Capital has acquired The Lab in Berlin for the Garbe Science and Technology Real Estate Fund 1 (Garbe STREF#1).
The fund was launched together with the capital management company (KVG) Intreal and is structured as a club deal of institutional investors.
Located in the Adlershof Technology Park, an established innovation cluster in the southeast of Berlin, the property boasts a long-term lease to a tenant with a strong credit rating. The site also offers further development potential.
The acquisition has been arranged as a sale and lease back transaction with the previous owner, the Institute for Product Quality (IfP), which is a respected market leader in the field of laboratory and food analysis as well as the analysis of animal feed, drinking water and pharmaceuticals.
The Lab is a complex located on a 21,200 m2 parcel in the Treptow-Köpenick district of Berlin (Wagner-Régeny-Strasse 8+9), with total rentable floor space of some 18,900 m2 and 122 parking spaces. The structure’s seven component parts were built between 2014 and 2019.
Mellum Capital structured the transaction as financial advisor and liaised the buyer to the local savings bank Berliner Sparkasse, which acts as debt capital provider.
‘With an innovative tenant in place along with the further potential offered by the Adlershof Technology Park, this prime property in an established innovation cluster fits perfectly into our fund strategy,’ said Thomas Kallenbrunnen, managing director of Garbe Institutional Capital. ‘We see considerable strength and very dynamic growth in this market segment. Through this acquisition, we have secured a property for our investors with stable cash flow in a location with excellent future potential.’
JLL advised the seller and brokered the transaction.
