6 Oct 2021
M7 fully lets logistics asset in Bishofsheim, Germany
M7 Real Estate (“M7”), the pan-European investor and asset manager specialising in multi-tenanted properties, announces that it has fully let a c. 3,800 sq m logistics asset in Bischofsheim on behalf of M7 European Real Estate Investment Partners V (“M7 EREIP V” or the “Fund”), to Emons Spedition, a major international haulier.
The asset is a well specified cross dock logistics building comprising a 2,836 sq m warehouse with c. 1,000 sq m of ancillary office space. It is located on the Eastern side of Bischofsheim to the East of Mainz (9km) and South West of Frankfurt (10km). The asset is situated in an established commercial area with a number of other logistics buildings in close proximity and is serviced by good transport links with access to the A60 Autobahn, which connects it with the main arterial routes surrounding Frankfurt and Mainz.
In line the Fund’s strategy of investing into opportunities with value-add potential, M7 acquired the asset with vacant possession and undertook refurbishment works whilst engaging with local agents to source a new occupier for the asset. Emons Spedition has taken a lease over the whole asset.
Richard Fletcher, Head of Transactions at M7 Germany, commented: “We are very pleased to have achieved 100% occupancy of the asset. This letting demonstrates the ongoing pressure for occupiers to find good quality, well located storage space in the Rhein/Main region to satisfy supply chains and this will continue to push rental growth in the German logistics market. The lease creates significant value for the Fund with a solid income stream from a high quality covenant.”
M7 EREIP V is an M7 discretionary fund, set up for global high net worth, family office and institutional investors. It is a follow-on fund to M7 EREIP IV and has invested in high yielding commercial real estate in Germany, the Netherlands, Ireland and Scandinavia. M7 has co-invested and is the appointed investment and asset manager.
NAI Apollo advised M7.