Brookfield, through its real estate solutions strategy, has acquired a majority interest in a portfolio of seven industrial logistics assets owned by GARBE Industrial Real Estate (“GARBE“). In addition, they will form a joint venture with GARBE to invest over €100 million of equity in value-add pipeline opportunities in select European markets. Terms of the transaction were not disclosed.
GARBE Industrial Real Estate GmbH (“GARBE”), one of the leading specialists for logistics, light industrial and technology properties in Germany and other countries in Europe, is moving ahead with its expansion plans for Austria. Franz Kastner (39) was appointed as Managing Director of GARBE Industrial Real Estate Austria, a subsidiary formed in 2022.
Invesco Real Estate, the global real estate investment business of Invesco Ltd. (NYSE: IVZ), has further increased its exposure to the European logistics sector with the acquisition of a 45,000 sqm freehold site in Traiskirchen, Austria. The acquisition has been completed by Invesco’s European Value Add Fund II (EVAF II).