PAMERA Real Estate Partners, acting for a family office managed by the company, has acquired a 14,500-square-meter (156,000-square-foot) office property with storage/production space at Reisholzer Werftstrasse 38-42, in the south of Düsseldorf. The vendor is M7 EREIP IV, an M7 Real Estate fund, for which M7 is the asset manager.
The asset, which is currently occupied by 11 tenants, comprises two office buildings and a light industrial unit. The anchor tenant is the Düsseldorf State. PAMERA will take over the asset management of the property.
Completed in 1994, the property has a total lettable area of around 14,500 square meters (156,00-square feet). Some 11,500 square meters (124,000 square feet) of this is office space, together with around 3,000 square meters (32,000 square feet) of light industrial accommodation. The property is currently around 85 percent let. The weighted average unexpired lease term (WAULT) of the property is approximately 6.3 years. T
