The vehicle has acquired the Mäander property in Munich from investor and real estate developer asto Group.

Garbe Science and Technology Real Estate Fund 1 was launched together with Intreal and is structured as a club deal of institutional investors. It is targeting an investment volume of €400 mln.

Mäander is located in an established innovation cluster between Oberpfaffenhofen and Gilching near Munich. The new building is being developed primarily for tenants from the research and development sector (R&D).

It comprises approximately 18,100 m2 of gross floor area (GFA) and 245 car parking spaces with 100 charging points for electric vehicles. The building in Zeppelinstrasse is already 84% let and completion is scheduled for the end of 2022. Tenants include several renowned technology companies from the aerospace industry. These include ABB, Quantum-Systems and Vectoflow. The asto Group itself will also set up its headquarters in Mäander.

Ekkehart Fabian, managing director of the asto Group, said: ‘As part of a long-term partnership with Garbe Institutional Capital, we will continue to manage the building after completion.’

Thomas Kallenbrunnen, managing director of Garbe Institutional Capital, added: ‘With Mäander, our investors benefit from the strongly growing research & development sector. The building is particularly compelling due to its location in an innovation cluster.’