M7 Real Estate has invested in three commercial properties in Germany on behalf of its fifth European value-add property fund, M7 EREIP V, the pan-European asset manager announced Thursday.
The M7 EREIP V fund invests in commercial property in Germany, Denmark, Ireland and the Netherlands, in urban logistics, retail and offices. M7 said it paid €17.7 million ($19.6 million) for the properties via three separate transactions.
The first asset, a mixed-use logistics and leisure property spanning 15,300 square meters (164,687 square feet), was acquired from May & Co and is located at Ostring 6, in the Nordenstadt district of Wiesbaden. Tenants include SOPRO Bauchemie and the Superfly trampoline park. It has a vacancy rate of 25 percent.
The second asset is an 11,750-square-meter (126,475-square-foot) property that rents to a Mutares investment company. The second acquisition was a sale and leaseback deal, on a 10-year triple-net lease.
The last property
