Garbe eyeing up expansion in southern Germany
Hamburg-based Garbe Industrial Real Estate inked black figures in all its business sectors in 2017. The value of the logistics and business property developer’s transactions amounted to around EUR 500 million last year. The deals included the sale of three properties in Garbe Logistik Park Westfalenhütte in Dortmund (Germany) to the Arabian investment bank Rasmala.
Industrial real estate will be one of Garbe’s focal points this year. “We also want to play a bigger role in the value-add segment,” said managing director Christopher Garbe.
The company is setting its sights on Germany and Europe. In addition, Garbe Industrial Real Estate has opened offices in Stuttgart and Munich to raise its profile in southern Germany. The company currently manages 3.2 million sqm of space, worth a total of EUR 2.1 billion.
Last year Garbe’s own real estate management let more than 350,000 sqm of space; the letting ratio was 96%. (mw)