EUR103m of transactions bring M7’s EREIP V to full investment
M7 Real Estate (M7) has fully invested its fifth value add European investment fund, M7 European Real Estate Investment Partners V (M7 EREIP V) having raised a total of EUR83.2 million of equity following a final close in June 2019.
The Fund’s investors include high net worth individuals, family offices and sovereign wealth investors from Europe, Hong Kong and the Middle East, and the Fund’s portfolio now has a total value of EUR251 million with a price of EUR686 per sq m and is c82 per cent let with a WALT of 3.7 years. The Fund’s strategy has been to aggregate single assets across a large number of transactions rather than acquiring portfolios which has enabled it to generate a NIY of 8.4 per cent.
Richard Croft, Executive Chairman of M7, says: “Having successfully deployed the capital raised on behalf of the Fund within an efficient timeframe, our focus is now to stabilise the portfolio of assets we have assembled.
“We have continued to see strong investor appetite for European value-add strategies, which has been demonstrated by the level of investor interest we have received for this fund.”
David Ebbrell, Chief Executive Officer of M7, says: “The final close of EREIP V has facilitated the completion of a further 22 acquisitions comprising 129,000 sq m in separate transactions totalling EUR103 million and takes the total portfolio to 366,000 sq m across 49 office, industrial and retail warehouse assets located in Denmark, The Netherlands, Germany and Ireland. It comprises 47 per cent office, 41 per cent industrial/logistics and 12 per cent retail warehouse assets. Following the final acquisitions, a number of asset management initiatives are already underway with capex allocated to facilitate leasing activity and re-market the vacant space across the portfolio to drive income returns for our investors.”