Pan-European investor and asset manager M7 Real Estate has agreed to sell a 42,000 sqm 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. Financial details were not disclosed. M7 acquired the 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.
Source: https://propertyeu.info/Nieuws/M7-sells-German-warehouse-and-office-to-dairy-farm-coop/d57733e8-6614-42c7-b1e4-581b685e99c9, on 7.12.2023.