M7 Real Estate’s fourth European real estate fund has made its first investment in Denmark by acquiring 10 logistics assets for €69.8m.
M7 European Real Estate Investment Partners IV’s (M7 EREIP IV) acquisitions follow the fund’s final close in November 2017 taking funds raised to around €400m.
The asset manager said the fund has a total investment capacity of over €800m, including gearing, of which around €600m has now been deployed.
The newly acquired assets, which is made up of around 117,000sqm in total, are fully let to 11 tenants with an average lease length of 6 years.
The majority of the assets are single let and have been acquired through sale and leaseback structures.
The assets are located close to the motorway network around Greater Copenhagen, on the island of Funen and the Jutland peninsula.
David Ebbrell, M7’s chief investment officer, said: “These acquisitions in Denmark provide the Fund with additional geographical diversity whilst strengthening the income profile of the fund.
“The transactions continue to underpin M7’s strategy to position EREIP IV as an attractive income-focussed fund.”
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.