M7 Real Estate (M7) the pan-European investor and asset manager specialising in multi-tenanted real estate, has sold Forum Marburg, in Marburg, Hesse, to Silberbaum Capital on behalf of M7 ISLAY (the “Fund”).
The multi-tenanted office property, situated at Neue Kasseler Strasse 62, has a total lettable area of around 12,500 sq m and is fully occupied. The building’s major tenants are Siemens, Postbank Finanzberatung and the Marburg municipal authority.
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 a 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.”
M7 ISLAY is a discretionary fund that has invested around EUR 440 million in industrial, retail and office properties in Germany and the Netherlands. The properties have a total lettable area of c. 453,000 sq m. M7 recently sold a portfolio of 27 retail properties to FIM Unternehmensgruppeon behalf the Fund in line with its business plan.
Luther Rechtsanwälte and the Sparkasse Marburg-Biedenkopf advised M7 on the disposal. Socium Consulting acted as transaction consultant for the purchaser.