2 Feb 2018
M7 completes sale of €121 million of industrial assets to Blackstone
London, 2 February 2018 – M7 Real Estate Ltd (“M7”), the pan-European investor and asset manager, announces that it has completed the sale of a portfolio of 28 European industrial assets for €121 million.
The portfolio comprises 20 Dutch and eight German multi-let industrial assets held in the M7 EREIP II, M7 EREIP III and M7 EREIP IV funds (together the “ M7 Funds”). The sales have been achieved ahead of business plans and target returns. The long term objective for the M7 Funds remains to be to provide investors with strong returns by investing in a portfolio of income producing assets. The sales will reduce capital expenditure requirements, allow for early repayment of debt and secure the majority of the upside underwritten for the assets sooner than originally anticipated.
Jack Thoms, Head of Investment Management at M7, commented: “Due to some value add opportunities remaining across the assets and the long term income they produce, the purchaser has been able to make an attractive offer for them resulting in excellent returns for our investors whilst de-risking the remaining portfolios.”