Pan-European investor M7 Real Estate has raised €175 mln at the first close of its fourth European investment fund.
The commitments, which include cash from Hong Kong and the Middle East, provide the fund with an investment capacity exceeding €400 mln. M7 EREIP IV will target value-add multi-let commercial real estate opportunities in Germany, the Netherlands, France and Scandinavia.
'This latest fund marks an important milestone in the continued expansion of the M7 business. It is both our largest fund raise and underscores the appetite for income-focused offerings underpinned by a risk diversified portfolio,' commented Richard Croft, M7’s chief executive.
M7 said it would source and manage the assets through its pan-European platform, which has recently opened an office in its 12th territory, Luxembourg. A Finnish office is planned for the fourth quarter of this year.
'We have already identified a pipeline of opportunities, with over €200 mln of assets under exclusivity, and will be looking to announce EREIP IV’s first acquisitions in the near term,' Croft concluded.
