M7 Real Estate has acquired a portfolio of office and light industrial assets from Valad Europe for €63.5m on behalf of M7 European Real Estate Investment Partners IV. The portfolio comprises ten properties that are located in key German cities and offer a combined total floor area of c. 103,000 sqm including two assets that offer 38,000 sqm of primarily office accommodation in central Düsseldorf. Located at Heltorfer Strasse 4-6 and 12-22, the two offices currently have a combined vacancy of 52%, and M7 has identified a number of opportunities to grow value through asset management. The remaining eight assets are light industrial properties, with a total lettable area of c. 64,800 sqm. Three of these are situated in Lohfelden near Kassel, two are in Ottobrunn close to Munich, while the others are in Regensburg, the nearby town of Barbing and Langenfeld near Düsseldorf. These assets are around 68% let to a range of tenants. Following this acquisition, M7 manages 77 properties in Germany, with a total floor area exceeding 828,000 sqm and an investment volume of circa €463m.
