M7 fully invests Portuguese fund with €35m deal

Pan-European investor and asset manager M7 has acquired seven light industrial and logistics assets in four separate transactions on behalf of the M7 Portuguese Active Fund (M7 PORAF) for a total of €35 mln.  Following the transactions, the fund is fully invested.

'These final acquisitions complete the investment period for this fund providing a strong and diversified return whilst offering multiple value-add opportunities,' said Leonardo Peres, managing director M7 Portugal.

'In a supply constrained market, this portfolio is an exciting opportunity for value and income creation through further asset management initiatives. Leveraging our track record in executing asset management programmes, our focus is now on delivering our business plan for the portfolio, which includes enhancing rental income and capital value,' Peres added.

The properties, comprising a total floor area of 75,232 m2 of predominantly light industrial and logistics space, are located in Lisbon, Porto and Évora, in central Portugal.

The portfolio is 90% let to 13 occupiers, including Schnellecke, DSV and Continental, and has a weighted average lease term of 2.2 years. M7 has identified a number of asset management opportunities across the portfolio including upcoming lease renewals with well-established occupiers.

The deals form the second tranche of capital deployed on behalf of M7 PORAF. Since the launch of the fund in the third quarter of 2018, M7 has grown the portfolio to 22 office, logistics, light industrial and retail parks totalling 172,329 m2 with a total value of €91 mln.

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