MStar Europe has acquired five logistics properties in Germany for a price believed to be around €44.7m. MStar is an industrial property investment vehicle formed through a joint venture between M7 Real Estate with a controlled affiliate of Starwood Capital Group. The properties are located in Pulheim, Frankfurt, Stelle near Hamburg and in two locations in Ratingen. The total rental space is 100,000 sqm. The seller of the investments is a fund managed by Valad. MStar Europe plans to invest up to €500m in continental European logistics, but this acquisition marks its first in Germany.
