11 Mar 2016

M7 Acquires Fifteen Assets in The Netherlands for EREIP III

London, 11 March, 2016 – M7 Real Estate, the pan-European real estate investor and asset manager, announces that it has acquired a collective portfolio of 15 assets across three separate transactions in the Netherlands on behalf of its of its latest European investment fund M7 European Real Estate Investment Partners III (“M7 EREIP III” or the “Fund”).

These transactions comprise the acquisition of the Frontier building in Delft, a fully let 10,000 m² office building in the Delftechpark, purchased from Synchroon B.V., as well as the TEN portfolio from Stichting Achmea Dutch Office Fund and the North portfolio from Retail Fund North B.V.

The TEN portfolio consists of ten office and business space assets located throughout the Netherlands, including Almere, Amersfoort, Arnhem, Breda and Maastricht, across a total of 48,480 m² . The portfolio is currently 67.6% let to 28 tenants, and major occupiers include Oranjewoud, Peek Traffic, Perfect Call, VGZ and DAS.The North portfolio consists of four retail parks in Assen, Drachten, Emmen and Emmeloord, across a total of approximately 100,000 m² retail/warehouse space. The portfolio is 80% let to 55 tenants, including Carpetright, Bruynzeel kitchens, Beter Bed, Swiss Sense, Praxis, Leen Bakker, Gamma, Decokay, Pronto and Quantum.

M7 EREIP III now has a total portfolio size of c.182,000 m². The fund has a Value Add-led strategy and targets assets that offer both sustainable income streams and asset management opportunities in the retail, office and the multi-let industrial sectors in both Germany and the Netherlands. It had received investor commitments totaling over €80 million at its first close in December 2015.

Richard Croft, M7’s Chief Executive said “Following the first close of EREIP III in January, these most recent acquisitions continue to endorse the capability of our pan-European investment and asset management platform to identify assets with both solid foundations and the opportunity to add value across multiple sectors and countries. These properties present plenty of opportunities to add value through a variety of asset management initiatives including refurbishments, lease extensions and the letting of current vacant space.”

Jones Lang La Salle advised Stichting Achmea. Van Doorne acted as real estate legal adviser to M7 EREIP III.