Realty Income buys M7 retail park portfolio
Realty Income has bought a portfolio of 11 retail parks from M7 Real Estate for more than £80m.
The portfolio of “e-warehousing” properties measures around 481,300 sq ft, with occupiers including B&Q, B&M and The Range.
M7 sold 10 of the assets on behalf of M7 Box+I, with the remaining asset for M7 REIP IX.
Realty Income has bought a portfolio of 11 retail parks from M7 Real Estate for more than £80m.
The portfolio of “e-warehousing” properties measures around 481,300 sq ft, with occupiers including B&Q, B&M and The Range.
M7 sold 10 of the assets on behalf of M7 Box+I, with the remaining asset for M7 REIP IX.
Having assembled the portfolio by January 2021, M7 said it focused on selecting properties in strong locations, situated within retail catchments for both consumers and retailers and suitable for last-mile delivery, with potential for future rental and capital growth through active asset management.
David Ebbrell, chief executive of M7 Real Estate, said: “The sale of Box+I in a relatively short timeframe demonstrates our ability to identify and assemble an attractive portfolio spread across competitive locations.
“We saw an opportunity to benefit from the strength of the investment market and sentiment towards one of the most interesting UK real estate asset classes: e-warehouses. After executing on the accumulation and value creation strategies as envisaged in the funds’ business plans, we decided to sell the portfolio.”
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Photo © M7 Real Estate
