M7 & con un private equity partner inizia a investire nell’ industrial & office in Portogallo

7 Real Estate (“M7”), the pan European investor and asset manager, announces that it has acquired ten industrial and office assets in Portugal via two transactions for a total of €41 million, on behalf of a new joint venture, the Portuguese Investment Fund (“PIF” or the “JV”) with a major, global private equity firm.

Portuguese bank, Novo Banco, has provided a €20.55 million loan facility to finance the acquisition of the portfolio, marking a new banking relationship for M7.

PIF targets primarily logistics and office assets in Portugal with M7 acting as both investment and asset manager. The vehicle is M7’s second in Portugal where it manages a total of €132 million of assets, including on behalf of the M7 Portuguese Active Fund (“M7 PORAF”), which targets value add real estate opportunities in regional Portuguese markets and is fully invested.

The c. 85,600 sq m portfolio, acquired by M7 on behalf of PIF, was assembled through two separate transactions and comprises five last mile logistics assets predominantly located in Lisbon and Porto; three office buildings in Lisbon; and two solus retail warehouse units in Greater Lisbon and Madeira.

M7 will implement an active asset management strategy to lease up the vacant space across the portfolio, which is 95% let, and grow rental income, taking advantage of low vacancy rates in the Lisbon office and industrial markets and the robust demand for industrial space in areas of strong connectivity from the rise of e-commerce.

Source : Company