M7 Real Estate has fully invested for its dedicated French fund and is the process of replicating the fund’s strategy in Poland and Portugal.
The manager said M7 French Active Fund (M7 FAF) bought four multi-let office and light industrial assets for €35.5m and is now fully invested with managed assets of around €115m. M7 FAF raised €60.5m at the final close in October 2018.
The latest acquisitions, which comprise 59,944sqm of accommodation, are 99% occupied by 20 tenants. Three of the assets are situated close to Paris and the remaining asset is near the northern city of Rouen.
Richard Croft, the chief executive officer of M7 Real Estate, said: “Since establishing our first dedicated French fund in the middle of last year, we have swiftly deployed the capital raised to create a strong portfolio and are already underway with a number of active asset management initiatives.
“We are now in the process of replicating this model in Poland and Portugal, where we have an established track record in identifying compelling investment opportunities and unlocking value for investors.”
This is taking place in conjunction with the growth of the manager’s pan-European fund series, Croft said.