Acting on behalf of the M7 European Real Estate Investment Partners IV fund, M7 Real Estate, the pan-European investor and asset manager that specialises in the regional, multi-let real estate market, has acquired an office property in Schweinfurt, Bavaria. The vendor is a property holding company in WealthCap's 'HFS Deutschland 16' real estate fund. The parties have agreed to keep the purchase price confidential.
After completing this transaction, M7 Real Estate manages 189 properties in Germany, with a total floor area of almost 2.4 million m² and an investment volume of circa €1.4bn.
The building, on a site of approximately 9,800 m² at Amsterdamstrasse 4, has a lettable area of almost 5,000 m². The tenants include UniCredit Direct Services and GMG Generalmietgesellschaft. The property, which dates from 2001, is currently 100% let.
The M7 EREIP IV fund portfolio now comprises 77 properties with a total floor area of around 463,000 m², worth more than €328m located in Germany, Finland, Ireland and the Netherlands.
IMAXX AG advised M7 on the acquisition.
