M7 picks up seven UK value-add industrial and warehouse assets

Pan-European investor and asset manager M7 Real Estate has acquired a further seven industrial and warehouse assets in the UK located in key regional markets.

The deal was struck on behalf of a joint venture targeting value-add UK real estate with a fund managed by global investment and technology development firm, DE Shaw group.

The acquisitions comprise two multi-tenant light industrial assets and five single-tenant warehouses with a total floor area of 465,000 ft2 (43,200 m2). The assets are situated across the UK in locations with strong underlying fundamentals including Manchester, Coventry, Newcastle-upon-Tyne and Basildon.

Miles Chuter, senior acquisitions manager of M7 Real Estate, commented: 'Despite the macro-economic headwinds, we believe that these well located regional assets provide an exciting mix of long-term income and opportunity to create value through asset management initiatives.

'These latest transactions demonstrate the strength of our working relationship with the DE Shaw group and we are now focused on executing our business plan and further expanding the portfolio, if the right opportunities arise.'

The transactions bring the portfolio to 22 office, logistics, light industrial and retail parks totalling 1.2 million ft2.

M7 acts as asset manager for the JV’s portfolio, which is 98% occupied and will continue to undertake a number of initiatives to enhance the portfolio, including negotiation of outstanding and upcoming lease events, as well as let up of vacancy.

M7 was advised by DTRE, Addleshaw Goddard LLP, Hollis and Nova-Ambiente.


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