M7 acquires light industrial portfolio in CEE for CEREF I

6 June 2017

London, 6 July 2017 -  M7 Real Estate (“M7”), the pan-European investor and asset manager, announces that it has acquired a portfolio of 11 light industrial assets in Hungary and the Czech Republic, on behalf of M7 CEREF I (the “Fund”), from a joint venture between Partners Group and Cromwell Property Group.

M7 has now acquired 19 properties with a total value of circa €127.5 million on behalf of the Fund, which invests in Core Plus and high yielding regional opportunities across CEE, since the final close was completed in April 2017. The target raise of €60 million of investor capital was reached and a senior debt facility of €68.5 million entered into with Starwood European Real Estate Finance.

This latest portfolio comprises 209,832 sq m across 276 units, with a 23.6% vacancy. Seven of the assets are located in Hungary, while the remaining four are in the Czech Republic.

The portfolio provides M7 CEREF I with both stable income from an existing tenant base, and also offers significant opportunities to create further value through the leasing of vacant units, targeted capital expenditure and lease extensions with existing tenants to enhance the WAULT.

David Ebbrell, Chief Investment Officer at M7 said, “We believe that a revitalised asset management strategy for this portfolio will enable us to capitalise on current occupier conditions in the region. The equity we raised in April has been efficiently deployed as we continue to secure properties where significant capital and income upside can be achieved which will deliver strong returns for the Fund.”

Karol Pilniewicz, Head of CEE at Cromwell Property Group, commented: “We are delighted to have completed the disposal of the Hungarian and Czech portfolio. The sale of this portfolio is in line with the business plan we had agreed with our investor prior to the acquisition of the fund. Since acquiring the portfolio in early 2016, we have generated an attractive 26% return for our partner on this portfolio.”

M7 Real Estate lets 800 sq m of café/restaurant space and extends leases on over 1,800 sq m in Hanover

17 August 2017

Frankfurt, August 17 2017 − M7 Real Estate (M7), the pan-European investor and asset manager specialising in the regional, multi-let real estate market, has let around 800 sq m of café/restaurant accommodation in Hildesheimer Strasse 420-426, Hanover. The "Xiahui Hu China-Restaurant" has signed a long-term lease on the unit. Engel & Völkers Commercial brokered the deal. read more

M7 Real Estate lets 10,500 sq m of logistics and warehouse space

2 August 2017

Frankfurt, 2 August 2017 – M7 Real Estate (M7), the pan-European investor and asset manager specialising in the regional, multi-let real estate market, has advised its joint venture with Starwood Capital, MStar Europe, on the long-term letting of around 10,500 sq m of warehouse and logistics space with three new lettings. The express beverage delivery company "Flaschenpost" has taken almost 8,500 sq m of warehouse space in Köhlstrasse 8 in Cologne. The property, dating from 1972 and extended in 1989, has a total lettable area of circa 38,100 sq m and is now fully let. Greif & Contzen brokered this transaction. read more

M7 achieves new record rent in South Lancashire

1 August 2017

London, 1 August 2017 - M7 Real Estate (“M7”), the pan-European investor and asset manager, announces that, acting on behalf of a major financial institution, it has secured the letting of over 63,000 sq ft of warehouse accommodation to Pallet-Track at the South Lancashire Industrial Estate in Ashton, Makerfield. Pallet-Track, the UK’s fastest growing overnight-palletised freight network has agreed a 10 year lease at £330,000 pa, equating to £5.17 psf, setting a new headline rent for refurbished secondary space in the area, reflecting both strong demand and limited supply in the region. read more