M7, Centerbridge launch €250m European industrial outdoor storage JV

M7 Real Estate, the pan-European investor and asset manager, and Centerbridge Partners, the global alternative investment manager, have launched a €250 million ($277 million) joint venture targeting the industrial outdoor storage sector in Continental Europe.

Industrial outdoor storage assets provide occupiers from a range of industries, such as logistics, manufacturing and construction, with space for the storage of goods, vehicles, building materials, containers and/or equipment.

The joint venture will target IOS assets in urban areas with high industrial and logistics activity, strong transportation connections and large population catchments across Denmark, France, Germany, the Netherlands and Spain, implementing asset management strategies to generate value.

M7 and Centerbridge have closed one acquisition and have signed a second for a total of about €20 million ($22 million). The assets, which are situated in Paris and the Triangle Region of Denmark, p