M7 Real Estate (M7), the pan-European investor and asset manager, and Centerbridge Partners (Centerbridge), the global alternative investment manager, have launched a €250 million joint venture targeting the Industrial Outdoor Storage (IOS) sector in Continental Europe.
IOS assets provide occupiers from a range of industries, such as logistics, manufacturing, and construction, with space for the storage of goods, vehicles, building materials, containers and/or equipment.
The JV will target IOS assets in urban areas with high industrial and logistics activity, strong transportation connections and large population catchments across Denmark, France, Germany, the Netherlands and Spain, implementing asset management strategies to generate value.
M7 and Centerbridge have closed one acquisition and have signed a second for a total of about €20 million. The assets, which are situated in Paris and the Triangle Region of Denmark, provide a total of c. 62,000 square metres of space, including c. 46,000 square metres of IOS area and c. 16,000 square metres of warehouse space.
Source: propertyeu.info on the 1st of October, 2024
https://propertyeu.info/Nieuws/M7-and-Centerbridge-launch-250m-European-industrial-outdoor-storage-JV/2a7ceb89-e897-452b-8bf3-29eebe7f4957