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Equity Estate has successfully divested the German assets in the Qube portfolio to M7 Real Estate. The portfolio includes five modern Light Industrial properties and a temperature-controlled logistics- and production property, each of which is 100% let. The average remaining term of the leases (WALT) totalling 22,000 sqm of space amounted to 5.7 years.
The six properties, which are predominantly located in industrial estates, are spread over various metropolitan regions in Germany: Berlin / Brandenburg (Wildau), North Rhine-Westphalia (Bergisch Gladbach). Hesse (Michelstadt), Baden-Württemberg (Albstadt, Friedrichshafen) and Bavaria (Kempten).
Seller is one of the Funds managed by Equity Estate B.V., which carried out the transaction through its own real estate company AB CPFM Real Estate B.V. This joint venture with a Middle Eastern investor is approaching the end of its term and has already successfully divested 11 of its assets spread over Belgium, The Netherlands and Germany. Knight Frank's European Capital Markets team and DLA Piper advised the seller on the sale.
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