19 Oct 2021
M7 signs 8,000 sq m industrial letting in Jutland, Denmark
M7 Real Estate (“M7”), the pan-European investor and asset manager specialising in multi-tenanted properties, announces that it has let, on behalf of M7 European Real Estate Investment Partners IV (“M7 EREIP IV” or the “Fund”), an 8,000 sq m industrial warehouse unit in Jutland, Denmark, to System Transport A/S, one of Denmark’s leading third party logistics companies.
System Transport has agreed a five year lease, with a break at year three. The letting means the asset, which M7 acquired in April 2018 on behalf of the Fund, is now 81% occupied after the entire property became vacant following the departure of the previous tenant, at the end of September 2021. The remaining space is being actively marketed and further lettings are already under negotiation.
Situated in Hornsyld, the property is located near to the Triangle Area in Jutland, one of Denmark’s important logistics hubs, strategically situated for transporting goods to major Danish cities and the German border.
Mikkel Seitzberg Mikkelsen at M7 Real Estate, commented: “This letting demonstrates the continued strength of the industrial and logistics market in Denmark, driven in part by businesses looking to bolster their supply chains as more shopping is done online. Vacancy rates are low and well located schemes such as this remain in demand. We are pleased that we were able to act so quickly to secure this letting with System Transport, testimony to our proactive team of asset managers on the ground.”
M7 EREIP IV is part of M7’s pan-European value add fund series targeted at global high net worth, family office and institutional investors. The Fund is invested in high yielding commercial real estate in Germany, the Netherlands, Ireland and Scandinavia.
M7 was advised by Colliers.