Transaction volume across Europe grew by 35% compared to the 2021 total to €1.62 bn.

The property development pipeline increased to €2.8 bn, while the overall European portfolio now consists of 194 assets with 5.3 million m2 of leasable area.

Logistics assets with a combined total of 213,000 m2 were completed, with another 2.2 million m2 are in planning or under construction.

Demand for space in Europe remains unchecked, as the occupancy rate within the Garbe portfolio remaining unchanged at 98.5%.

Christopher Garbe, managing partner of Garbe, said: ‘The logistics real estate market is evolving without being in the least impressed by the challenging parameters. Take the pandemic, the war in Ukraine or the low score of the consumer climate: These have done nothing to curb demand for space in Europe. As a result, we already topped the transaction total of 2021 by mid-year, and significantly so with a volume of €1.62 bn. Owing to the unshakeable trust of our investors, our holistic management approach and our Europe-wide footprint, we are able to exploit investment opportunities at exactly the right time.’

Jan-Dietrich Hempel, managing director of Garbe and head of asset management, said: ‘The bread-and-butter business alone has generated strong demand for space, and it is further fuelled by additional potential from the in-shoring and re-/near-shoring trends, by e-commerce and by expanded warehousing. This has triggered an increase in building activity in Germany that is reflected in our project pipeline.’

Garbe raised €400 mln in equity during H1 2022 among investors for its GLIF+III evergreen fund.

The expansion of rooftop PV systems is making good progress, with the installation of an additional 135,000 m2 with a combined output of 13.5 MWp.