Pan-European investor and asset manager M7 Real Estate has made its debut investment in Denmark on behalf of M7 European Real Estate Investment Partners IV (M7 EREIP IV), acquiring 10 logistics assets for a total of €69.8 mln.
The vendors were not named.
The assets, comprising around 117,000 m2 in total, are fully let to 11 tenants with an average lease length of circa 6 years and are strategically located around Greater Copenhagen, on the island of Funen and the Jutland peninsula. The majority of the assets are single let and have been acquired through sale and leaseback structures.
'These acquisitions in Denmark provide the Fund with additional geographical diversity whilst strengthening the income profile of the fund,' commented David Ebbrell, M7’s chief investment officer. 'The transactions continue to underpin M7’s strategy to position EREIP IV as an attractive income-focussed fund.'
The acquisitions follow the fund’s final close, announced in November 2017, taking funds raised to circa €400 mln, making it M7’s largest fund to date. The fund has a total investment capacity of over €800 mln, including gearing, of which approximately €600 mln has now been deployed.
M7 EREIP IV targets regional value-add commercial real estate opportunities in Germany, the Netherlands and Scandinavia which are sourced and managed by M7, through its pan-European platform.
