M7 Real Estate has agreed to sell a 42,000 sq m commercial building comprising warehouse and office space as well as development land in Westerstede, northern Germany, to Ammerland Molkerei, a dairy farm cooperative.
The sale has been completed on behalf of Azure, a separate account mandate, which is close to being fully exited.
M7 acquired the warehouse and office asset in 2020 and, having identified that the building presented an attractive opportunity for an owner occupier, executed an asset management strategy to prepare it for sale with vacant possession.
Located in northern Germany, the property benefits from excellent arterial connectivity with direct access to Autobahn 28, providing links to Germany’s wider motorway network.
Richard Fletcher, Director Transactions – Germany at M7 Real Estate, commented: “This disposal illustrates our ability to execute innovative asset management strategies on highly specialised assets. Once we acquired the asset we executed our business plan, preparing the asset for sale with vacant possession to an owner occupier. We took advantage of the current liquidity in the market for smaller lot sizes, crystallizing value for our investor. The property provides huge potential for the dairy cooperative to expand their business, being a specialist occupier from the local area.
“Germany remains a key market for M7, as well as the UK and Nordics, and we have ambitions to grow by deploying capital into value add, core + and core opportunities with a focus on the industrial and logistics sector.”
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