M7 Real Estate's fourth European fund nears full deployment
M7 Real Estate expects its €400m value-add regional real estate fund to be fully invested in the current quarter, the manager said as it announced the acquisition of €140m of assets.
The pan-European asset manager said it bought 68 assets on behalf of M7 European Real Estate Investment Partners IV (M7 EREIP IV) and expects to complete the acquisition of a further €35m within the next three months.
The acquired assets are being acquired through a combination of portfolio and individual transactions and total 331,000sqm across Denmark, Germany and the Netherlands.
Richard Croft, the chief executive of M7 Real Estate, said: “Fully investing M7’s largest fund to date will mark a major milestone for us. Since completing the fund’s final close, M7 has demonstrated its capability to leverage its pan-European investment and asset management platform to successfully deploy investor capital into an identified pipeline of income producing, value-add real estate.
“The portfolio presents a compelling opportunity to add value and generate attractive returns for our investors by applying our asset management expertise.”
Last November, M7 raised €400m at the close of M7 EREIP IV. The amount raised provides the fund, its largest fund to date, with a total investment capacity of over €800m, including gearing.
M7 EREIP IV invests in high yielding, value-add regional real estate in Scandinavia, Germany, The Republic of Ireland and the Netherlands.
The total portfolio will comprise 1.3m square metres across 212 multi-let office and industrial assets.