M7 Real Estate has acquired seven assets on behalf of a UK value-add property joint venture with a fund managed by DE Shaw.

The pan-European investor and asset manager said it has bought the industrial and warehouse assets located in UK regional markets including Manchester, Coventry, Newcastle-upon-Tyne and Basildon for an undisclosed amount.

The assets comprise two multi-tenant light industrial assets and five single-tenant warehouses with a total floor area of 465,000sqft.

The latest deal increases the joint venture’s portfolio to 22 office, logistics, light industrial and retail parks totalling 1.2m sqft with a 98% occupancy.

M7 acts as an asset manager for the joint venture’s portfolio.

Miles Chuter, senior acquisitions manager of M7 Real Estate, said: “Despite the macro-economic headwinds, we believe that these well-located regional assets provide an exciting mix of long-term income and opportunity to create value through asset management initiatives.

“These latest transactions demonstrate the strength of our working relationship with the DE Shaw group and we are now focused on executing our business plan and further expanding the portfolio if the right opportunities arise.”

To read the latest edition of the latest IPE Real Assets magazine click here.

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