Publications

M7 Real Estate sells logistics property near Hamburg
Transactions - FEBRUARY 4, 2021

To read this full article you need to be subscribed to Newsline.

Sign in Sign up for a FREE subscription

M7 Real Estate sells logistics property near Hamburg

by Released

M7 Real Estate (M7), on behalf of the M7 EREIP IV fund, has sold a logistics property in Neu Wulmstorf, near Hamburg, Germany. The purchaser 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 square meters (91,493 square feet) 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, said, “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

Forgot your username or password?