Dream Industrial REIT has acquired a €140m light industrial portfolio in the Netherlands from M7 Real Estate.
Announcing the deal, M7 said it sold the portfolio of 31 assets on behalf of the M7 European Real Estate Investment Partners (EREIP) IV fund.
M7 will be retained as advisor for the portfolio which spans 192,000sqm and is 96% let to over 70 tenants.
M7 acquired the portfolio of light industrial and logistics properties between October 2016 and June 2018 through 12 separate transactions. The assets are primarily concentrated in urban centres including Amsterdam and Rotterdam.
Simon Cowley, divisional director, investment management at M7 Real Estate, said: “To be retained as advisor for the portfolio by the purchaser is a great endorsement of the team.
”It will also provide a seamless transition and continuous relationship with a best-in-class management team that has hands-on experience and deep knowledge of each property. We look forward to working with Dream Industrial REIT to help maximise their returns.”
David Ebbrell, CEO of M7 Real Estate, said: “The Netherlands remains a strategically important market for M7 where our team on the ground manage a sizeable portfolio on behalf of our investors.
“The sale of these assets on behalf of EREIP IV ahead of the anticipated time frame and at the prices achieved demonstrates M7’s ability to deliver returns for our investors through active asset management and a value-add approach has enabled the estimated five year hold period for the assets to be halved whilst still achieving their projected returns.”
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