M7 closes retail warehouse fund with acquisition of five assets for £24.8 million

4 April 2019

M7 Real Estate (“M7”), the pan-European investor and asset manager, announces that, on behalf of M7 Real Estate Investment Partners VIII (“M7 REIP VIII” or the “Fund”), it has acquired a total of five retail warehouse assets for £24.8 million reflecting an in place net initial yield of 8%.

The acquired assets total 191,136 sq ft and are located across the UK in Leeds, Gateshead, Worksop, Stafford and Shipley. The assets are fully let with a combined WALT of 6.3 years with tenants including Poundstretcher, Topps Tiles, DSG Retail, Pets at Home, B&Q and Argos.

The purchases complete the acquisition period for the Fund which has acquired circa £126 million across 20 assets totalling 1,039,255 sq ft since the Fund launch in Q3 2018. The acquisitions are in line with the Fund’s strategy of investing in first and second generation retail warehouse assets in the UK with low rent per square foot and low capital values.

Will Hunting, Senior Acquisitions Manager at M7, commented, “We are delighted to have completed the acquisition period for M7 REIP VIII and look forward to building on the strong results already achieved by the asset management team across the portfolio. The five new assets are accretive to the fund, continuing the theme of acquiring credit diversified medium to long term income streams that also benefit from multiple value-add opportunities.”

M7 sells Liget Centre in Hungary

9 May 2019

M7 Real Estate (“M7”), the pan-European investor and asset manager, announces that it has sold the Liget Centre, a grade A multi-let office building in Budapest, Hungary, on behalf of M7 Central European Real Estate Fund I (“M7 CEREF I” or the “Fund”) to WINGHOLDING Zrt. (“WING”), the leading property development and investment company in Hungary. read more

M7 acquires prominent Scottish industrial estate for new Middle Eastern separate account mandate

8 May 2019

M7 Real Estate (“M7”), the pan European investor and asset manager, announces the acquisition of Tweedbank Industrial Estate, the largest industrial estate in the Scottish Borders, on behalf of a new separate account mandate for a Middle Eastern sovereign wealth investor. The asset was acquired from funds managed by Catalyst Capital for £4.57 million, reflecting an initial yield of 8.62% and a capital value of £39 per sq ft. read more