M7 Real Estate acting on behalf of M7 European Real Estate Investment Partners IV fund (M7 EREIP IV), has sold a portfolio of four light industrial properties to the Wohninvest Group. The properties are situated in Albstadt, Friedrichshafen (both Baden-Wuerttemberg) Bergisch Gladbach (North Rhine-Westphalia) and Wildau (Brandenburg). The properties, which have a total lettable area of approximately 8,200m² are all occupied by WM SE, Europe's leading retailer of automotive parts and accessories, tools, workshop equipment and workshop concepts. Prior to the sale M7, as asset manager of the Fund, had agreed extensions of the existing leases to WM SE until 2027 and 2028.
Richard Fletcher, Head of Transactions at M7 Real Estate Germany, commented: "M7 acquired the properties in 2018 on behalf of the M7 EREIP IV fund. After the successful lease extensions and the resulting increase in the value of the properties, in line with the Fund's business plan, we decided to sell the portfolio, securing an attractive return for our investors."
