M7 Real Estate has invested €63.5m in a German office, industrial portfolio sold by Valad Europe.
The manager bought the 10 assets for its European Real Estate Investment Partners IV.
The 103,000sqm portfolio includes two office assets in central Düsseldorf with 52% vacancy.
Eight light industrial properties, including properties near Kassel and Munich and 32% vacant, make up the portfolio.
Alyssa Huse, managing director of M7 Germany, said: “We acquired this portfolio because it provides both a mix of strong and diverse income profiles, combined with a range of opportunities to enhance capital and rental values.”
Huse said M7 will look to achieve significant medium term growth in value of the portfolio through a targeted asset management programme.
Danilo Hunker, head of Germany at Valad Europe, said now was an “optimum time” to dispose of the assets.