M7 Real Estate sells German industrial portfolio

M7 Real Estate, acting on behalf of M7 European Real Estate Investment Partners IV, has sold a light industrial property in Ottobrunn, Germany.

The purchaser is part of the Accumulata Real Estate Group. The parties have agreed not to disclose the purchase price.

The asset, at Christa-McAuliffe-Strasse, has a leasable area of around 13,650 square meters (147,000 square feet) and comprises a warehouse building with ancillary office space. The building, which was constructed in 1982, also provides 130 car parking spaces. Occupied on long leases by two strong covenants, Flugzeug-Union Sud and Carl Stahl Sud, the asset’s weighted average unexpired lease term is seven years. Accumulata will be taking over as the long-term asset manager of the property.

“Purchased as part of a portfolio for M7 EREIP IV, we have demonstrated our asset management expertise by reducing the vacancy and improving the long term cash flow of the property,” said Richard Fletcher, he