London, 27 September 2017 - M7 Real Estate, the pan European investor and asset manager, announces that it has invested a further €142.9 million in 34 office assets throughout the Netherlands on behalf of M7 European Real Estate Investment Partners IV (“M7 EREIP IV” or the “Fund”). A total of €575 million has now been deployed on behalf of the Fund, which was launched with a €175 million first close in October 2016 to target value-add multi-let commercial real estate opportunities in Germany, the Netherlands, Ireland, France and Scandinavia.
The acquisition comprises three portfolios and two single assets, including one portfolio of 16 office assets for €77.9 million. These properties provide a total of 95,187 sq m of office accommodation in a range of well-established Dutch business locations, including Amsterdam and Rotterdam, as well as strong regional locations such as Delft and Amersfoort.
The second portfolio of nine Dutch industrial and office assets was acquired for €39.55 million and totals 54,933 sq m. A third portfolio was purchased for €16.24 million and comprises seven assets located in important regional Dutch office markets, including Almere and Arnhem, with a total of 24,243 sq m.
The fourth and fifth transactions were for single office assets in Groningen, the economic heart of the Northern Netherlands, and in Utrecht, a core Randstad market. The properties were purchased for €3.48m and €5.74m respectively, and each provides a range of asset management angles coupled with core underlying income.
M7 has identified a range of opportunities to drive value across the new acquisitions, including a targeted capex and refurbishment programme to facilitate the lease up vacant space.
Commenting on the purchases, David Ebbrell, M7’s Chief Investment Officer, said: “These most recent acquisitions offer both strong and diverse income profiles as well as a range of opportunities to enhance capital and rental values. As such, the transactions are in line with our strategy to position EREIP IV as an attractive income-focussed fund that is underpinned by a resilient portfolio delivering risk adjusted returns.”
Savills, Ambiente, Van Doorne and Loyens & Loeff advised M7.