The Hamburg-based logistics real estate provider acquired 16 cold chain logistics facilities in Germany from a private investor, the firm announced on Thursday.
Hamburg-based logistics and industrial real estate provider Garbe Industrial Real Estate has acquired a portfolio of 16 cold chain logistics facilities in Germany for a private investor from the Doblinger Group, the firm announced on Thursday.
Garbe Industrial Real Estate secured the locations, which were previously long-term rental properties, via financing from the Landesbank Hessen-Thüringen (Helaba) and Ärzteversorgung Westfalen-Lippe (ÄVWL). The properties in total are 2.6 million square meters and are worth over 240 million euros (U.S. $281 million), the firm stated.
“By purchasing the cold chain logistics halls, we are investing in the future of the fresh food logistics market, which is gaining strategic importance owing to the increasing trend towards online food retail”, said Christopher Garbe, managing director of Garbe Industrial Real Estate. “This transaction reaffirms Garbe’s good access to the market allowing it to source and procure profitable investment opportunities for its customers, even in competitive markets. We thank all those involved for their professional collaboration.”
Garbe Industrial Real Estate invests $281m in cold chain logistics properties
