M7 Real Estate has invested €55m in 15 Dutch property assets on behalf of M7 European Real Estate Investment Partners IV.
It made five separate transactions, the largest of which was the acquisition of a portfolio for €38.3m.
The portfolio comprises 51,500 sqm of office space across 11 assets in Amsterdam, Hilversum, Enschede and Weesp, with a combined occupancy rate of 79.9%.
Approximately 40% of the income is derived from government bodies, plus tenants KPMG and ASUS.
M7 also acquired a multi-let office and retail building in Almelo, in the eastern Netherlands for €8.33m. The asset has a vacancy rate of 18.5%, and M7 plans to invest to improve the building.
Dalsteindreef 141, a 3,583sqm modern office building in Diemen, south east Amsterdam, has been acquired for €3.75m. The asset is 91% let to four tenants, including Regus which occupies 980sqm, on a lease expiring in 2024.
A modern, single-let warehouse in the Utrecht submarket of De Meern has also been acquired for €2.44m.
A 2,903sqm fully let office and warehouse property in Ridderkerk, near Rotterdam, was bought for €2.4m.
David Ebbrell, M7’s chief investment officer, said: “These most recent acquisitions for EREIP IV illustrate M7’s commitment to diversifying its pan-European portfolio, presenting exciting opportunities to enhance capital and rental values.
“We continue to explore a number of compelling investment opportunities across the continent and have a number of potential acquisitions in the pipeline.”
