M7 Real Estate sells 8,500 sq m logistics property near Hamburg
M7 Real Estate (M7), a pan-European investor and asset manager specialising in multi-tenanted properties, has sold, on behalf of the M7 EREIP IV fund, a logistics property in Neu Wulmstorf, near Hamburg.
The buyer is Crossbay, a pan-European last mile logistics platform managed by MARK (formerly Meyer Bergman).
The property, built in 1997, is situated at Gottlieb-Daimler-Strasse and comprises a total of 8,500 sq m of production and warehouse space. The asset is well located for light industrial use and is fully let to a single tenant. M7 has acted as asset manager since acquiring the property on behalf of M7 EREIP IV in 2017.
Alyssa Huse, Managing Director of M7 Real Estate Germany, says: “By spending capex on refurbishment works we have considerably increased the property’s value since acquisition. In accordance with the Fund's business plan, we have taken advantage of the current liquidity in the investment market to sell the asset and generate an attractive return for investors."
M7 EREIP IV is a discretionary fund, which is designed for high net worth, globally active private investors, Family Offices and institutional investors. It has invested in multi-tenanted commercial properties in Germany, the Netherlands, Ireland and Scandinavia. M7 is a co-investor, as well as acting as the Fund’s investment and asset manager