ICG Real Estate sells Munich logistics facility to Global Gate Capital

ICG Real Estate (ICGRE), the real estate arm of ICG, has sold a prime urban logistics facility in Obersendling, central Munich, for approximately €22 mln.

Obersendling, central Munich - ©Franz Brück

The buyer is the international investment firm Global Gate Capital.

ICGRE originally acquired this property in April 2023 as part of a larger European portfolio of 18 sites.

The Munich facility serves as the main distribution hub for German pharmaceutical wholesaler Alliance Healthcare Deutschland, which holds a long-term, triple-net, index-linked lease with a weighted average lease term of 12 years.

The property is strategically located just seven kilometres from Munich city centre.

Krysto Nikolic, global head of ICG Real Estate, commented: “Through this disposal we have been able to deliver an attractive outcome for our clients while meeting ICGRE’s strategic objective of exiting select assets within our portfolio. The property’s strong income profile and prime location enabled the sale of this core asset to a high-quality long-term investor.”

Maximilian Link, head of Germany at Global Gate Capital, added: “In just c. 15 months, we have assembled a €100 mln-plus portfolio of six high-quality German logistics assets. Our latest acquisition is the standout – a truly special, mission-critical inner-city Munich location with a prime tenant on a long, triple-net lease. It is the ideal final piece for the GLIP portfolio and reflects exactly the quality of income investment we set out to deliver for our investors.”

ICG was advised by PTXRE, while Global Gate received advice from Friedrich Graf von Westphalen & Partner, Albrings + Müller and Altavis. Volksbank Ostbayern provided the acquisition loan for the deal.