Pan-European investor and asset manager M7 Real Estate has raised around €65 mln in a first close for its fifth European investment fund, M7 Real Estate Investment Partners V (M7 EREIP V).
The firm said it received equity commitments from 25 investors including high-net worth investors, family offices, and sovereign wealth from Europe, Hong Kong and the Middle East. Including leverage the Fund will have a total investment capacity of over €280 mln.
Like its predecessors, the fund is targeting value-add, multi-let commercial real estate opportunities in Germany, the Netherlands, Ireland and Scandinavia.
Richard Croft, M7’s chief executive said: 'This latest fund in our pan-European series demonstrates the continued institutional demand for value-add real estate in these markets across Europe. Drawing upon our expertise in sourcing and executing transactions of this kind, we have been actively deploying the capital raised into a strong pipeline of opportunities and will continue to do so over the coming months.'
€148 mln has already been deployed on behalf of the Fund on initial investments in office, industrial and retail warehouse assets and portfolios. The acquired assets comprise 205,000 m2 of space across 27 properties in Denmark, The Netherlands, Germany and Ireland. M7 said it had already identified a number of active asset management initiatives to improve the occupancy and performance of the properties, while an active pipeline of c. €130 mln in potential future acquisitions is also in place.
