M7 Real Estate has acquired 92 primarily UK regional multi-let assets for around £117m (€132.7m).
The asset manager said the portfolio, of around 3,331,600sqft, is mostly multi-let regional industrial assets, as well as a small amount of offices, mixed use office and industrial assets and retail property.
The portfolio produces around £11.2m per annum of contracted rent.
The assets, which were acquired from separate vendors, include the Marble Portfolio and M7 Real Estate Investment Partners II.
The acquisitions have been made on behalf of M7 Real Estate Investment Holdings, it said.
M7 said it has provided the equity with financing for the purchases secured through senior debt together with a loan note that will be listed in the Channel Islands on the International Stock Exchange.
A number of existing and new third party investors have taken up the loan note component of the offer.
Last month, M7 cancelled the listing of M7 Multi-Let REIT, which was seeking to raise up to £300m.
These assets primarily comprise the assets originally identified for acquisition by M7 Multi-let REIT on its planned initial public offering, the company said today.
Richard Croft, M7’s chief executive said: “This is a highly diversified and high yielding portfolio which presents M7 and its investors in the new listed loan note with an exciting opportunity for value and income creation through further asset management.”
