An M7 Real Estate (M7) fund has added five UK retail warehouse assets worth for £23.9m (€27.5m) to its portfolio.

M7 Real Estate Investment Partners VIII (M7 REIP VIII) acquired two multi-let retail parks and three solus units from four vendors.

The acquired assets total 218,435sqft and are located across the UK in Chester, Wrexham, Stockton, Scunthorpe and Falkirk.

The manager said the latest deals take the fund value to around £100m across 15 assets since fund launch in the third quarter of last year.

Will Hunting, a senior acquisitions manager at M7 Real Estate, said: “Following the first tranche of acquisitions last year, these assets follow the fund’s theme of investing in low rent per square foot, low capital value retail warehousing, providing a defensive and diversified income return whilst also offering multiple value-add opportunities.

“We have identified a strong pipeline going forward and look forward to announcing further acquisitions shortly.”

 

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