Frankfurt-based investor Triuva (formerly IVG Institutional Funds) has acquired a three-asset logistics and office portfolio in Germany on behalf of a fund for €90 mln.
The transactions increase the volume of the IVG Garbe logistics fund to around €300 mln, and the parties are presenting plans for a follow-up vehicle to investors.
'With these acquisitions, we have reached our target volume for the IVG Garbe logistics fund,' said Wenzel Hoberg, CEO of Triuva. 'Due to the high demand, we have designed a follow-up product with a focus on selected logistics properties in Western Europe. This new fund concept is currently being presented to interested investors.'
The latest acquisition involved the Alpine portfolio including two properties in Nuremberg and Kornwestheim, with the third asset located in Hamburg. The seller of the Alpine portfolio is the Seewarte Group. The property in Hamburg was sold by Provinzial Rheinland.
The three office and logistics properties are in the core-plus bracket and comprise rental space of more than 70,000 m2. Over 25,000 m2 of this is attributable to office space, while the remaining 45,000 m2 consists of logistics space.
