GARBE Institutional Capital has completed the acquisition of GRR Real Estate Management GmbH. With this deal closing, a market-leading German platform for food-anchored retail real estate is now part of GARBE group of companies. GRR manages a portfolio of some 500 properties, with assets under management (AuM) of about € 2 billion. The c. 80 employees of GRR Real Estate have been assumed by GARBE. The 52 on-balance-sheet properties held by GRR have been acquired by GARBE Institutional Capital on behalf of an institutional fund. With this transaction, GARBE’s managed real estate assets (AuM) have grown to c. € 15 billion.
Andreas Freier and Oliver Gross will continue as Managing Directors of GRR Real Estate, with Thomas Kallenbrunnen, Managing Director of GARBE Institutional Capital, serving as the subsidiary’s third Managing Director for a transitional period. Martin Führlein, who has until now served as the third Managing Director of GRR Real Estate Management GmbH, will now focus on his role as a member of the Executive Board of GRR AG.
Source: europe-re.com on the 3rd of January, 2024
https://europe-re.com/garbe-acquired-grr-real-estate-management-de/72515