February 12, 2020 / 7:39 AM / 15 days ago

Union Investment to buy property firm Logistrial after failed IPO

FRANKFURT (Reuters) - German fund manager Union Investment is buying Logistrial for 800 million euros ($872 million) after a failed stock market listing of the commercial property firm in autumn.

Logistrial’s portfolio of 13 existing logistics properties and six project developments will supplement Union Investment’s 25 such properties worth 1.2 billion euros. They will be put into retail funds UniImmo Europa und UniImmo Global.

Union is buying Logistrial from Garbe Industrial Real Estate.

Reporting by Arno Schuetze, editing by Riham Alkousaa

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