M7 Real Estate has bought a portfolio of retail property assets in Germany.

The manager has invested €43m in the portfolio of 23 assets for its European Real Estate Investment Partners I vehicle.

The deal means the fund is now fully invested, with €90m spent.

The fund was launched last year to focus on value-add convenience retail opportunities.

The German portfolio, it said, is split, with two portfolios and two individual properties making up the tranche of assets.

A portfolio of 18 retail properties totalling 40,500sqm was bought from a syndicate of sellers, with tenants including Rewe and Metro.

M7 will look to expand assets and extend leases on the properties in the portfolio.

Five further assets include a portfolio of three properties sold by Patrizia Immobilien in Baden-Wurttemberg and Rhineland-Pfalz.

Two supermarkets in Lower Saxony and Hesse, both let to Edeka, make up the portfolio.