27 Jan 2014
MStar Continues Portfolio Expansion
27th January 2014 – MStar (the JV between M7 Real Estate and Starwood Capital) has started 2014 with the completion of four further assets.
The assets (in Theale, Glasgow, Wigan and Poynton) provide 298,272 sq ft of space, taking the MStar’s total portfolio to 1,880,000 sq ft in 25 assets.
The latest acquisitions were acquired for a total consideration of £11.8 million, providing an initial yield of 11.9% with a full reversionary yield of 11.8%.
David Ebbrell, Head of Transactions at M7 commented, “The acquisition of these four assets is accretive to the existing MStar portfolio and provides us with numerous asset management opportunities.”