M7 Real Estate has reached an agreement along with its joint venture partner, Starwood Capital, for the sale of MStar Europe for €486 million ($553 million) to a global asset management and financial services business.
The sale comprises a portfolio of 50 light industrial assets, which will continue to be managed by M7.
The portfolio, which has a total lettable area of 655,000 square meters (7.05 million square feet), is strategically located along key distribution networks in the major economic hubs of the Netherlands and Germany. This encompasses urban centers including Amsterdam, Rotterdam, the Hague, Utrecht, Rhine-Ruhr, Frankfurt and Stuttgart.
MStar Europe was founded in 2014 and assembled by M7 on behalf of Starwood with the intention to acquire a significant portfolio of multi-let light industrial and urban logistics assets in sought-after locations in Germany and the Netherlands with growth potential.
The portfolio was acquired with more than 2
