M7 Real Estate (M7), the pan-European investor and asset manager, has acquired three commercial properties in Germany for its fifth European value add property fund, M7 EREIP V for EUR 17.7 million, in three separate transactions.
The first property was acquired from May & Co and is located at Ostring 6, in the Nordenstadt district of Wiesbaden. The asset is a mixed-use logistics and leisure asset of 15,300 sq m with tenants including SOPRO Bauchemie and the Superfly trampoline park. It has a vacancy rate of approximately 25%, thereby offering the opportunity to create value by increasing occupancy.
The second acquisition in Koblenz was a sale and lease-back deal, on a 10-year FRI (triple net) lease, with an option for a further five years. Well-located on the northern edge of the city, the building has a flexible structure, occupying 11,750 sq m on a large site of c. 33,000 sq m. The vendor is a Mutares investment company.
The final asset in Bischofsheim, Rhineland-Pfalz is a cross-dock logistics warehouse and ancillary office building. Built in 1991, it has a total lettable area of 3,800 sq m on a circa 14,600 sq m site. Recently vacant (since November), it is situated in a very strong location with good access to Frankfurt and the key regional cities of Mainz and Wiesbaden, which are situated around ten kilometres away. It has already attracted strong occupier interest post- acquisition.
M7 Real Estate Ltd is a pan-European investor and asset manager specialised in multi-let real estate. M7’s team consists of over 220 staff operating across a platform spanning 13 countries comprising the UK, Croatia, Czech Republic, Denmark, Finland, France, Germany, Hungary, Luxembourg, the Netherlands, Poland, Portugal and Slovakia.
Established in 2009 and wholly owned by its senior managers, M7 manages a portfolio of c.800 assets comprising 65 million sq ft of GLA with a capital value in excess of €4.7 billion.
M7 acts as an investment and asset manager to a series of funds that it has established and in which it co-invests alongside a large number of family office, high net worth and institutional investors. In addition, M7 also has a number of separate account mandates where it acts as a third party asset manager for the portfolios of institutional, family office and high net worth investors including M&G Investments and MIRA. M7 also enters into joint ventures and currently has one with private equity firm H.I.G. Capital.
Source : M7