M7 launches new fund with £70m retail warehouse portfolio

M7 Real Estate has acquired nine UK retail warehouses for £69.9m as part of the launch of a new fund. The new fund – M7 Real Estate Investment Partners VIII – will target retail warehouse assets in the UK. The latest acquisition is a seed portfolio 99% let to 30 tenants. It comprises 630,896 sq ft across 31 units. The assets are located in Aintree, Blackpool, Castleford, Glasgow, Lowestoft, Nottingham, Pontefract, Wolverhampton, St Helens and Stoke-on-Trent. Tenants include The Range, B&M, Go Outdoors, Matalan and Iceland. Will Hunting, senior acquisitions manager at M7, commented: “These assets are a great starting point for the fund and provide a strong, defensive and diversified income return, while also offering multiple value-add opportunities.” To send feedback, e-mail anna.ward@egi.co.uk or tweet @annaroxelana or @estatesgazette