Greenberg Traurig Advises GARBE on Recapitalization of Logistics Portfolio and Formation of Joint Venture

BERLIN - 5 July 2024 -Greenberg Traurig advised GARBE Industrial Real Estate (GARBE) on the sale of a majority interest in an existing portfolio of seven logistics properties in Germany and Austria to Brookfield Asset Management (Brookfield). The Greenberg Traurig team also advised GARBE on the establishment of a joint venture with Brookfield. The parties have agreed not to disclose the terms of the transaction.

The 150,000 square meter logistics portfolio consists of high-quality, newly constructed distribution warehouses with six properties in Germany and one in Austria. GARBE will continue to hold a significant stake in this portfolio. The development joint venture was established with two locations in Germany. Both are currently owned by GARBE, which will continue to manage both the existing and the development portfolio.

GARBE, based in Hamburg, develops, sells, leases and finances commercial real estate. GARBE currently has approximately 6.5 million square meters of leasable space and a real estate development pipeline of approximately 1.9 million square meters in Germany.

Brookfield, headquartered in Toronto, is a leading global alternative asset manager with over USD 925 billion in assets under management.

The lawyers at Greenberg Traurig provided comprehensive advice to GARBE on the execution of the purchase agreements, the joint venture agreement, and the asset management and property management agreements in Germany and Austria, as well as on antitrust law.

Background:

Greenberg Traurig regularly advises GARBE on transactions. Most recently, Greenberg Traurig lawyers advised on the purchase of the production and laboratory ensemble for The Lab in Berlin.