M7 buys office and logistics assets

M7 Real Estate has bought six office and logistics assets worth a combined £22.4m, on behalf of its Investment Partners VI fund (M7 REIP VI). The assets total 1m sq ft, and comprise three office buildings in Liverpool, Stirling and Glasgow and a trio of logistics assets in Barnsley, Workington and Inverclyde. These were acquired from six different vendors for a net initial yield of 10.6%. M7 said they have “limited vacancy but provide significant accessible reversion”. M7 reinvested the proceeds from the £31.4m sale of eight UK regional assets to Regional REIT in August. Will Hunting, senior acquisitions manager, said: “Following the portfolio disposal in the summer, which enabled us to deliver a further portion of original equity back to investors, we are efficiently reinvesting the remaining proceeds into a selection of assets with both income and capital growth potential. “These purchases demonstrate M7’s continuing strategy of driving portfolio value via the aggregation of multiple small cap assets, combined with proactive asset management once acquired.” To send feedback, e-mail pui-guan.man@egi.co.uk or tweet @PuiGuanM or @estatesgazette