M7 fully invests Portuguese fund with acquisition of light industrial & logistics assets for €35 million

M7 Real Estate (“M7”), the pan-European investor and asset manager, announces that it has acquired seven light industrial and logistics assets in four separate transactions on behalf of the M7 Portuguese Active Fund (“M7 PORAF” or the “Fund”) for a total of €35 million. Following the transactions, the Fund is fully invested.

The properties, comprising a total floor area of 75,232 sq m of predominantly light industrial and logistics space, are located in Lisbon, Porto and Évora, in central Portugal. The portfolio is 90% let to 13 occupiers, including Schnellecke, DSV and Continental, and has a WALT of 2.2 years. M7 has identified a number of asset management opportunities across the portfolio including upcoming lease renewals with well-established occupiers.

These transactions, which form the second tranche of capital deployed on behalf of M7 PORAF, complete the acquisitions for the Fund which has targeted value add investment opportunities in key regional Portuguese markets. Since the launch of the Fund in the third quarter of 2018, M7 has grown the portfolio to 22 office, logistics, light industrial and retail parks totalling 172,329 sq m with a total value of €91 million.

Leonardo Peres, Managing Director M7 Portugal, commented: “These final acquisitions complete the investment period for this Fund providing a strong and diversified return whilst offering multiple value add opportunities. In a supply constrained market, this portfolio is an exciting opportunity for value and income creation through further asset management initiatives. Leveraging our track record in executing asset management programmes, our focus is now on delivering our business plan for the portfolio, which includes enhancing rental income and capital value.”

M7 was advised by SRS Legal, Savills and Ambiente.