Frankfurt, 16 May 2017 − M7 Real Estate (M7), an investor and asset manager specialising in European multi-let properties with value-add potential, has agreed leases on over 2,000 sq m of office space in "Forum Marburg", at Neue Kasseler Strasse 62.
FiNet Financial Services Network AG has extended its existing lease on over 1,700 sq m of office space, while the association Arbeit und Bildung e.V. is to move into an almost 200 sq m unit in the property. The asset is now virtually fully let.
Built in 1938 and fully refurbished in 2000, the multi-tenanted property has a total lettable area of around 12,500 sq m, with ca. 11,500 sq m of offices and some 1,000 sq m of retail and storage space. The major occupiers are Siemens, Postbank Finanzberatung and ARAG. 359 parking spaces are included with the property.
The property belongs to the M7 European Real Estate Investment Partners III (M7 EREIP III) fund portfolio.
M7 EREIP III pursues a value-add strategy, concentrating on retail, office and multi-let properties in the industrial sector that produce steady incomes but also have asset management potential. The target markets are Germany and the Netherlands.
The fund is fully invested and has a portfolio of 65 properties in Germany and the Netherlands, with a total floor area of around 491,000 sq m.