PAMERA Real Estate Partners has acquired a 14,500m² office property with storage/production space at Reisholzer Werftstrasse 38-42, in the south of Dusseldorf. The vendor is M7 EREIP IV, an M7 Real Estate fund. The property, which is currently occupied by 11 tenants, comprises two office buildings and a light industrial unit. The anchor tenant is the Dusseldorf State which has established a Job Centre in the building. PAMERA will take over the asset management of the property. The weighted average unexpired lease term (WAULT) of the property is approximately 6.3 years. The property stands on a c. 14,600 square metre site, which includes around 240 parking spaces.
The scheme is easily accessible by road and public transport, via a nearby underground station. It has undergone numerous refurbishment and modernisation works in the past including the replacement of the heating installation. In addition, M7 has renewed the entrance areas of the property as well as the exterior facilities.
Alyssa Huse, Managing Director Germany at M7, commented: "Having acquired the property in 2017 on behalf of M7 EREIP IV, we have successfully managed it since then and in line with our business plan, we have disposed of the property in order to secure a positive exit for the fund’s investors."
Christoph Zapp, Founder and Managing Partner of PAMERA, added: "We are very happy to acquire this interesting property. It offers long-term secured cash flow and potential, which we will leverage through our active management approach. This corresponds exactly to the needs of the families we represent.”
