12 Apr 2021
M7 sells £55 million of logistics assets to Ardent UK and retains asset manager role
M7 Real Estate (“M7”), the pan-European investor and asset manager, announces that, acting on behalf of M7 managed funds, it has sold the Monument and Aggregator portfolios together with two single assets to Ardent UK for circa £55 million and has been retained as asset manager for the properties.
The total size of the sale is approximately 1.4 million sq ft and comprises the 353,213 sq ft Aggregator portfolio with assets in seven locations across Scotland and England, the 942,323 sq ft Monument portfolio with assets in three locations in Scotland and England, as well as two additional deals for separate assets in Lancaster and Milton Keynes with tenancies as diverse as Amazon and Eddie Stobart to Optiplan Kitchens and the Tempest Brewing Co.
Ardent UK have retained M7 as asset manager to leverage M7’s knowledge and experience within the logistics and industrial markets to continue to drive the value of the portfolio.
John Murnaghan, Head of UK & Ireland, M7 Real Estate commented, “It is part of our business plan to recycle our logistics portfolio which we hold in several funds and in this regard we are delighted to have worked with Ardent UK. They have proved to be a strong and skilled partner on these transactions and it is a credit to the expertise and experience on both sides that we managed to complete the deal quickly. We are looking forward to continuing to work closely with the Ardent UK team as asset managers as they grow their portfolio further.”