Pan-European investor and asset manager M7 Real Estate has fully invested its sixth value add European investment fund, M7 European Real Estate Investment Partners VI (M7 EREIP VI).
In total, the Fund has completed €160 mln of acquisitions in the office and industrial sectors across key regional markets in the Netherlands and Ireland.
The portfolio comprises 20 assets totalling 62,000 m2 of industrial properties, and 73,000 m2 of offices. The assets, which are located in Dublin, Den Bosch, Eindhoven, Groningen and Rotterdam, were acquired through a mix of on and off market transactions with a range of vendors, including private investors and institutions.
The fund raised equity from global high net worth family offices and institutional investors, and additional acquisition financing was secured from Bank of America, BNP Paribas and AIB.
John Pow, director of transactions at M7 Real Estate commented: 'We continue to leverage our local platforms to identify attractive investments and mispriced assets in both the industrial and office sectors, where despite the macroeconomic headwinds, we believe there is a supply demand imbalance and therefore strong occupier demand for well-specified and well-located assets.
'We are already underway on our asset management plan for the portfolio including the leasing of the remaining office space. Following the successful deployment of the Fund, we are targeting new investments across Europe across the industrial, office, and retail warehouse sectors.'