5 Sep 2017
M7 Real Estate achieves full letting of retail warehouse centre in Dillingen
Frankfurt, 5 September 2017 − M7 Real Estate (M7), the pan-European investor and asset manager that specialises in the regional, multi-let real estate market, announces that it has achieved full occupancy at a retail warehouse centre in Dillingen, in the Saarland. M7 took over the asset management of the property in April 2016 when the occupancy rate was only 70%.
The new tenant is Ingenieurbüro Karl Gross, which has signed a long-term lease on a vacant unit of circa 325 sq m in the retail warehouse centre at Merzinger Strasse 79-83. Recently, KiK enlarged its existing unit by around 1,000 sq m, almost doubling its floor area. The strong tenant mix in the property, which dates from 2005, is completed by the long-established anchor tenant Netto.
The full letting of the property which totals around 3,000 sq m is the result of utilising M7’s local market knowledge and pro-active management approach, enabling successful letting of properties located in ‘C’ and ‘D’ locations.
The property is part of the M7 European Real Estate Investment Partners I (M7 EREIP I) fund portfolio. EREIP I, which was launched in 2015, is a value-add fund, aimed at wealthy private investors. It currently comprises 30 properties, with a total lettable area of around 91,000 sq m.