7 Jul 2017
M7 Real Estate buys office building in Schweinfurt and now has over €1.4 bn of assets under management in Germany
Frankfurt, 7 July 2017 − Acting on behalf of the M7 European Real Estate Investment Partners IV (M7 EREIP IV) fund, M7 Real Estate (M7), the pan-European investor and asset manager that specialises in the regional, multi-let real estate market, has acquired an office property in Schweinfurt, Bavaria.
After completing this transaction, M7 Real Estate manages 189 properties in Germany, with a total floor area of almost 2.4 million sq m and an investment volume of circa €1.4 billion.
The building, on a site of approximately 9,800 sq m at Amsterdamstrasse 4, has a lettable area of almost 5,000 sq m. The tenants include UniCredit Direct Services GmbH and GMG Generalmietgesellschaft GmbH. The property, which dates from 2001, is currently 100% let.
The vendor is a property holding company in WealthCap’s ‘HFS Deutschland 16’ real estate fund. IMAXX AG advised M7 on the acquisition. The parties have agreed to keep the purchase price confidential.
The M7 EREIP IV fund portfolio now comprises 77 properties with a total floor area of around 463,000 sq m, worth more than €328 million, located in Germany, Finland, Ireland and the Netherlands.