GARBE Industrial Real Estate GmbH (“GARBE”), one of the leading specialists for logistics, light industrial and technology real estate in Germany and Europe, has formed a joint venture with a fund managed by BlackRock, a global asset manager.
The stated purpose of the joint venture is to set up a portfolio of logistics real estate with strong sustainability characteristics. Eligible assets include new-build structures as well as standing properties waiting to be modernised – primarily in Germany and France.
The first property acquired is a brownfield site of about 200,000 square metres in Salzgitter in Germany, where the construction of a logistics property with a total floor area of about 70,000 square metres is scheduled to start in the first quarter 2025 and to be completed in 2026.
In France, the joint venture in early August acquired a fully permitted plot of land near Rennes to develop a divisible 27,000 square metres BREEAM Excellent warehouse that will be delivered in Autumn 2025.
You can now read the full press release at the link below
