M7 Real Estate (M7) has sold Forum Marburg, in Marburg, Hesse, to Silberbaum Capital. The multi-tenanted office property, situated at Neue Kasseler Strasse 62, has a total lettable area of around 12,500m² and is fully occupied. The building’s major tenants are Siemens, Postbank Finanzberatung and the Marburg municipal authority. The purchase price was not disclosed.
Alyssa Huse, Managing Director of M7 Real Estate Germany, commented: “When we acquired Forum Marburg in summer 2016, the leases had short remaining terms and the property was around 30% vacant. Using targeted marketing initiatives together with our strong local market presence, we were able to achieve full occupancy of the property, generating stable cash flow in a short timeframe. The disposal of the asset is in line with the Fund’s business plan and secures an attractive return for the investors.”