M7 closes UK retail warehouse fund with £24.8m acquisition
M7 Real Estate’s latest UK retail warehouse fund has closed with the acquisition of five assets.
M7 Real Estate Investment Partners VIII, which was launched in the third quarter of last year, has added five fully-let retail warehouse assets worth £24.8m (€29m) to its portfolio, the manager said.
The acquired assets total 191,136sqft and are located across the UK in Leeds, Gateshead, Worksop, Stafford and Shipley.
The manager said the purchases complete the acquisition period for the fund which has acquired about £126m across 20 assets totalling 1.04m sqft since the fund launched.
Will Hunting, senior acquisitions manager at M7, said: “We are delighted to have completed the acquisition period for M7 REIP VIII and look forward to building on the strong results already achieved by the asset management team across the portfolio.
“The five new assets are accretive to the fund, continuing the theme of acquiring credit diversified medium to long term income streams that also benefit from multiple value-add opportunities.”