May 22, 2019 / 11:11 AM / a month ago

Commercial property group Garbe plans Frankfurt listing -sources

FRANKFURT, May 22 (Reuters) - German logistics property group Garbe Industrial Real Estate is preparing for a Frankfurt stock market flotation in the autumn, hoping to benefit from a continued boom in Germany’s real estate market, people close to the matter said.

The company, which develops logistics facilities, warehouses and business parks in Germany and the Netherlands, is working with Deutsche Bank and JP Morgan on the listing, they added.

The Hamburg-based firm is expected to sell shares worth 300-400 million euros in a deal that may value it at around 700 million euros ($782 million), they said.

Garbe and the banks declined to comment.

$1 = 0.8953 euros Additional reporting by Caroline Copley Editing by Thomas Seythal

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