27 Feb 2013
M7 Announces Its Planned Expansion into the Netherlands Through The Creation of M7 Cortona
27th February 2013 – M7 Real Estate LLP, the specialist investor and asset manager of multi-let light industrial real estate has announced its planned expansion into the Netherlands through a tie up with Cortona Management BV. The new venture will be called M7 Cortona and will operate from Amsterdam, from Cortona’s existing offices in Rubenstraat.
Remko Dickhaut, Chief Executive of Cortona Management will be Chief Executive of the business and commented that “we see this as a very exciting time in the market to be bringing together the local real estate knowledge and experience of the Cortona team with M7’s specialist industrial knowledge and market leading investment and information management infrastructure.”
Richard Croft, Senior Partner of M7 added “European expansion has been on our agenda for some time but we believe that the timing is now right. A number of investors have approached us and having grown and stabilised M7’s UK platform we are ready and excited to be exploring new markets.”
Formed in 2009, the M7 team consists of eleven partners and thirteen members of staff. The business has acquired c.£400 million of UK assets and currently manages over 12,000,000 sq ft of space in excess of 2,000 units generating c.£35 million pa of income.
Cortona Management BV has 2 shareholders and 8 further employees. The Cortona platform, founded by Philip de Haseth-Möller (who remains one of the two existing shareholders) has been operating in the Netherlands for 27 years and manages circa €200 million of Dutch real estate assets.