Logicenters and GARBE start collaboration in Germany and begin their Joint Venture by realizing 27,000 sqm entirely from wood

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Nrep Logicenters, an urban investor with €19 billion of assets under management, and the
German logistics developer and investment manager GARBE Industrial Real Estate (€10b
AUM, 6m sqm warehouse space) will jointly act as development and asset managers for the
joint venture. The GARBE Industrial Real Estate team will be leading the project.

The joint venture partners focus on further strengthening their footprint in Germany by
building up a sustainable logistic portfolio. With this collaboration, Logicenters and GARBE
exemplify their ongoing efforts to provide state-of-the-art logistics solutions.

The first development of the joint venture is a greenfield development in Straubing (Bavaria).
The aim is to build a modern and green logistics warehouse of approx. 24,400 sqm on a
property of approx. 47,000 sqm. The facility is expected to be completed in Q3/2025. It will
be located in Straubing Sand – Straubings harbor area – with direct highway connections to
Munich, Regensburg, and Passau, as well as the Czech Republic.

The project in Straubing will be developed in line with the joint venture’s ambitious
sustainability objectives and will be built entirely from wood, including the highest ESG