Pan-European investor and asset manager M7 has acquired 11 high-yielding assets in England for its first fund for third-party investors.
Pan-European investor and asset manager M7 has acquired 11 high-yielding assets in England for its first fund for third-party investors.
The portfolio of light industrial, office and retail properties was purchased for a total of £25.7 mln (€32.4 mln), reflecting a blended net initial yield of around 12.5%.
The assets in the Midlands, northwest and northeast of England are a mix of light industrial, office and retail properties comprising more than 42,700 m2 of space. They represent the first investment for the Real Estate Investment Partners II (REIP II) fund, which raised £16.1 mln from high wealth investors.
Richard Croft, M7 Real Estate’s CEO, said: ‘This is a test run of our ambitions to establish M7 as a third-party investment manager. Up to now we have invested our own capital and worked in joint venture partnerships, so this is a natural progression for the company as a fully-fledged operating partner in our specialist high-yielding, multi-let property sector.’
M7 Real Estate specialises in multi-let real estate with more than €1 bn of assets under management in the UK, Denmark, the Netherlands, France, Germany and Poland.
