5 Oct 2020
M7 sells €11 million of assets across the Netherlands for EREIP IV
M7 Real Estate (“M7”), the pan European investor and asset manager, announces the sale of five office buildings and one retail property in the Netherlands, on behalf of M7 European Real Estate Investment Partners IV (“M7 EREIP IV” or the “Fund”), in four separate transactions for a total of €11 million.
The assets (listed in full below), which comprise a total of c 14,000 sq m of office and c.1,000 sq m of retail space, are located in Amersfoort, Burgh-Haamstede, Den Bosch and Rotterdam.
M7 EREIP IV is invested in high yielding, value-add regional real estate in Scandinavia, Germany, the Republic of Ireland and the Netherlands. The Fund’s portfolio, which is managed by M7 through its pan-European platform, comprises 140 multi-tenanted office and industrial assets totalling 824,841 sq m.
Remko Dickhaut, Managing Director of M7 in the Netherlands, said: “These asset sales demonstrate M7’s ability to execute a combination of asset management strategies including the letting up of vacant space to grow income, as well as identifying potential buyers – such as developers – who have a greater risk appetite, as per our asset-level business plans. The Fund’s successful sales demonstrate the value generated through the asset management initiatives.”
Full list of transactions:
- Computerweg 12 & Printerweg 6, Amersfoort (offices) – sold to a developer
- Noordstraat 16 – 20, Burgh-Haamstede (retail) – sold to a private investor/retailer
- Bruistensingel 300-398 & Bruistensingel 400-498 (offices), Den Bosch – sold to a private investor
- Stolwijkstraat 2-8, Rotterdam (education with offices space) – sold to a private investor