17 Nov 2009
LIPP Acquires Three Further Industrial Estates
17th November 2009 – M7 Real Estate is pleased to announce that the Light Industrial Property Partnership (the JV between M7 and Europa Capital Partners) has exchanged contracts on three further estates in Swindon, Basildon & Tipton.
The Estates have been acquired for approximately £14 million from three separate vendors with an initial yield of over 11%.
LIPP now has acquired six industrial estates for a capital value of circa £30 million and has another £20 mikllion of assets under offer.
Richard Croft, CEO of M7 said “We continue to search for assets that fit the business model of LIPP but continue to remain highly selective for our asset purchasing.”
West Immo provided senior debt finance to LIPP for the acquisitions.