European logistics specialist Garbe Industrial Real Estate has secured a €100 mln loan from Hamburg Commercial Bank (HCOB) to finance five logistics assets in Germany.
The properties, which were built between 2021 and 2022, have a market value of over €150 mln, while four of them are equipped with photovoltaic systems.
The fully occupied assets are held in Garbe’s proprietary portfolio and are located in the German towns of Coswig, Giengen, Harsum, Langenhagen and Wörth.
Jan Philipp Daun, managing director of Garbe, said: ‘Considering the currently challenging market environment, we very much appreciate that we were able to close this comprehensive portfolio financing arrangement together with HCOB in a swift, structured and reliable manner.’
Peter Axmann, head of real estate clients at HCOB, added: We are glad we successfully concluded yet another financing arrangement with Garbe at this time. Logistics real estate has proven to be a robust investment with a stable cash flow, while the financed assets have impressed us with their long-term viability, location and sustainable aspects.’
