8 May 2017
M7 agrees long-term lease extensions with KiK, REWE and LIDL
Frankfurt, 8 May 2017 − M7 Real Estate (M7), an investor and asset manager specialising in European multi-tenant properties with value-add potential, has agreed lease extensions on around 6,700 sq m of retail space in various properties belonging to the M7 European Real Estate Investment Partners (EREIP I) investment fund.
KiK has agreed a package of long-term extensions of its leases on the properties in Dillingen, Frechen and Hanover. Overall, they include ca. 2,000 sq m of retail space.
At Hasselhecker Strasse 25, in Ober-Mörlen, Hesse, REWE has agreed an extension of the existing lease on its ca. 2,850 sq m supermarket. The company has also extended the lease on its existing store, at Hannoverschen Strasse 46a in Alfeld, Lower Saxony, for a further ten years.
Meanwhile, in Extertal-Bösingfeld, North Rhine-Westphalia, LIDL has agreed a lease extension on its ca. 1,100 sq m unit.
EREIP I, which was launched in 2015, is a value-add oriented fund, aimed at wealthy private investors. It currently owns 30 properties, with a total lettable area of around 91,000 sq m.