25 Aug 2016
M7 Real Estate lets 4,000 sq m of warehouse and office space for MStar Europe
Frankfurt, 23 August 2016 − M7 Real Estate, the pan-European real estate investor and asset manager, has concluded another acquisition for its M7 European Real Estate Investment Partners III (M7 EREIP III) investment fund.
The property is the “Forum Marburg”, at Neue Kasseler Strasse 62 in Marburg. The vendor was a fund advised by Tristan Capital Partners, the pan-European real estate investment manager.
The multi-let property has a total lettable area of around 12,500 sq m, with circa 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.
At its final close in June 2016, EREIP III had received total commitments of approximately €125 million, giving the fund a total acquisition capacity of close to €300 million. The fund comprises a portfolio of 60 properties in Germany and the Netherlands, with a total floor area of around
447,000 sq m and total value of circa €235 million. M7 EREIP III has a value add-led strategy and comprises assets that offer both sustainable income streams and asset management opportunities in the retail, office and the multi-let industrial sectors in both Germany and the Netherlands.
The purchaser’s legal adviser was Simmons & Simmons, while Curtis, Mallet-Prevost, Colt & Mosle LLP acted for the vendor. Gleeds Deutschland GbR carried out the technical due diligence and Ambiente Deutschland GmbH the environmental due diligence. The vendor’s agent was Knight Frank Berlin.