ICG Real Estate Completes €22M Sale of Munich Urban Logistics Facility to Global Gate Capital
MUNICH, June 1, 2026 — ICG, the real estate division of global alternative asset manager ICG, has completed the sale of a prime urban logistics facility in the Obersendling district of central Munich to Global Gate Capital for approximately €22 million, the firms announced.
The acquisition marks the sixth and final asset in Global Gate Capital's German logistics income portfolio, known as GLIP, which the firm has assembled over approximately 15 months at a total value exceeding €100 million.
Deal Details and Property Profile
The facility serves as Alliance Healthcare Deutschland's primary distribution hub for the city of Munich, located approximately seven kilometers from the city center. Alliance Healthcare Deutschland is described in the announcement as Germany's market-leading pharmaceutical wholesaler. The tenant occupies the site on a long-term, triple-net, index-linked lease with a weighted average lease term of 12 years.
ICG Real Estate originally acquired the Munich asset in April 2023 as part of a larger pan-European portfolio comprising 18 sites, all fully let to Alliance Healthcare Deutschland on long-term, triple-net, index-linked leases.
The acquisition loan for Global Gate Capital's purchase was provided by Volksbank Ostbayern. ICG received advisory services from PTXRE. Global Gate Capital received legal advice from Friedrich Graf von Westphalen & Partner, technical advice from Albrings + Müller AG, and tax advice from Altavis.
Strategic Rationale: ICG's Portfolio Rotation
Krysto Nikolic, Global Head of ICG Real Estate, said the transaction reflects the firm's ongoing strategy of selectively exiting assets within its portfolio.
"Through this disposal we have been able to deliver an attractive outcome for our clients while meeting ICGRE's strategic objective of exiting select assets within our portfolio. The property's strong income profile and prime location enabled the sale of this core asset to a high-quality long-term investor," Nikolic said.
The sale follows ICG Real Estate's January 2026 completion of the sale of the INNIO Group Headquarters in Austria for €138 million.
Global Gate Capital Completes German Logistics Portfolio
For Global Gate Capital, the Munich acquisition completes its GLIP portfolio. Maximilian Link, Head of Germany at Global Gate Capital, described the asset as the defining piece of the portfolio.
"In just c. 15 months, we have assembled a >€100 million-plus portfolio of six high-quality German logistics assets. Our latest acquisition is the standout — a truly special, mission-critical inner-city Munich location with a prime tenant on a long, triple-net lease. It is the ideal final piece for the GLIP portfolio and reflects exactly the quality of income investment we set out to deliver for our investors," Link said.
ICG manages approximately $126 billion in assets under management as of March 31, 2026, and operates across structured capital, private equity secondaries, private debt, credit, and real assets globally.
Sources: ICG Real Estate — Official Announcement, June 1, 2026