28 Nov 2017

M7 Real Estate sells three buildings in the Netherlands on behalf of the EREIP II Fund

Amsterdam, 28 November 2017 – M7 Real Estate announces that it has sold a mixed use warehouse and office property and two retail buildings in the Netherlands in separate transactions for a total of €3.5 million on behalf of the M7 EREIP II fund.

The first property is located at De Meerheuvel 6-6A in Den Bosch and was sold to the current tenant BOSCHVAST for €600,000. This property, which was built in 1978, comprises a total of 2,177 sq m lettable office and warehouse space. BOSCHVAST occupies the entire building and exercised its right of first refusal to acquire the asset.

Stationsweg 7-11 in Oostvoorne has been sold to a private investor for €2,180,000. Constructed in 1986 and providing a total of 1,380 sq m lettable retail space, the property is fully let to Emté Supermarkets under a long-term lease agreement. BVVL Winkel Vastgoed Adviseurs acted on behalf of the buyer.

Finally, Vughterstraat 164-166 in Den Bosch has been sold to ‘Stichting Administratiekantoor Het Vergulde Cabeltouw’ for €725,000. The listed building comprises a total of 455 sq m lettable retail space with a residential appartment above. The property is fully let on long term leases to the Vaccination centre and kitchen retailer Poggen Pohl. The building was sold in November 2017.

The sale of these properties was part of the strategic plan for the Fund as they were not part of the core portfolio.

Van Doorne advised M7 Real Estate Netherlands B.V. on all three transactions.