GARBE is taking over the operating business of GRR Management from GRR AG, which includes approximately 80 employees and 500 managed properties. The real estate assets managed by GRR (AuM) for institutional funds and mandates amount to around two billion euros. GARBE is also acquiring 52 properties for its own institutional fund, which GRR previously managed as on-balance-sheet properties. GARBE will continue to manage the GRR brand as an independent company.
GARBE Institutional Capital is part of the owner-managed German real estate company GARBE with around 500 employees at 16 locations in 11 countries and real estate assets under management of around 13 billion euros.
Greenberg Traurig's lawyers provided advice on all legal aspects of the acquisition of the platform including various purchase agreements, financing, fund structuring and management agreements.
Background:
Greenberg Traurig regularly advises GARBE on transactions such as the sale of a 650-million-euro logistics real estate portfolio to the GARBE-managed fund "GARBE Logistics Real Estate Fund Plus III". Most recently, the lawyers advised on the purchase of the production and laboratory ensemble "The Lab" in Berlin.
About Greenberg Traurig: Greenberg Traurig, LLP has more than 2650 attorneys in 47 locations in the United States, Europe and the Middle East, Latin America, and Asia. The firm is a 2022 BTI “Highly Recommended Law Firm” for superior client service and is consistently among the top firms on the Am Law Global 100 and NLJ 500. Greenberg Traurig is Mansfield Rule 6.0 Certified Plus by The Diversity Lab. The firm is recognized for powering its U.S. offices with 100% renewable energy as certified by the Center for Resource Solutions Green-e® Energy program and is a member of the U.S. EPA’s Green Power Partnership Program. The firm is known for its philanthropic giving, innovation, diversity, and pro bono. Web: www.gtlaw.com