M7 sells two Portuguese assets in JV to family offices for €8 million

23 July 2018

London, 23 July 2018 – M7 Real Estate (“M7”), the pan European investor and asset manager, announces that it has sold two Portuguese multi-let industrial assets, Parque Tagus and Parque Jamor, in its joint venture with a U.S. based investment manager (the “JV”), to family offices for a total of €8 million.

The properties, which comprise around 22,000 sq m, are located in Portugal’s western corridor outside of Lisbon, an established logistics hub. The two assets were acquired in January 2016, each with a vacancy rate of approximately 30%. Following a successful marketing campaign in response to the strong demand in the local market, M7 let 8,369 sq. m (15 units) within 18 months of acquiring the properties, increasing their occupancy to 100% ahead of its forecast business plan.

The combined initial rental income of circa €653,000 per annum has been increased by 23% to €803,000 per annum with a weighted average lease term of 2.32 years, up 25% from 1.86 years at the time of acquisition. The tenancy base is well diversified with no single tenant representing more than 7% of rental income. Tenants include: Go Logistic, IBERSOL, Anicolor, Climamor (Trivalor Group) and Everything is New (NOS Alive festival promotors).

Leonardo Peres, Managing Director of M7 Real Estate in Portugal, commented: “The sale of the assets in the JV ahead of the anticipated time frame and at the prices achieved demonstrates our ability to deliver returns for our investors through active asset management and a value add approach. The strength of the Portuguese market has led to a shortage of compelling investment opportunities for investors and has therefore enabled the estimated five year hold period for the assets to be halved whilst still achieving their projected returns.”

M7 fully lets Norquest Industrial Estate, Leeds setting new rental tone

11 January 2019

London, 11 January 2018 - M7 Real Estate (“M7”), the pan European investor and asset manager announces that, on behalf of a major fund, it has fully let Norquest Industrial Estate in Leeds at a new headline rental level of £5.50 psf. read more

M7 continues to back Newton Aycliffe as a key industrial location

10 January 2019

M7 Real Estate (“M7”), the pan European investor and asset manager, announces that it has acquired a single let industrial unit in Newton Aycliffe, County Durham for £1.37 million representing a net initial yield of 7% and a capital value of £23.32 psf. read more

M7 Real Estate purchases £22.4 million portfolio of assets for REIP VI

10 January 2019

London, 10 January 2019 - M7 Real Estate, the pan-European real estate investor and asset manager, announces that, on behalf of M7 Real Estate Investment Partners VI (“M7 REIP VI”), it has acquired a total of six office and logistics assets, from six vendors, for £22.4 million. read more