M7 Real Estate (“M7”), the pan-European investor and asset manager, announces that it has sold a light industrial portfolio in the Netherlands to the Canadian real estate investor, Dream Industrial REIT, on behalf of M7 European Real Estate Investment Partners IV (“M7 EREIP IV” or the “Fund”), for circa €140 million. M7 will be retained as advisor for the portfolio.
The portfolio comprises 31 high quality light industrial and logistics properties that were acquired by M7 between October 2016 and June 2018 through 12 separate transactions and it provides significant scale in a highly fragmented market. The total portfolio spans c.192,000 sq m and is 96% let to over 70 tenants, providing a diversified tenant mix.
The assets are primarily concentrated in the country’s major urban centers including Amsterdam and Rotterdam, with over 87% of the properties located within 30 km of their respective city centers. Their strategic location means the assets serve as key last mile distribution hubs and capture growing demand for space in these markets from e-commerce businesses.
M7 manages assets with a total value of circa €760 million in the Netherlands comprising a total of circa 904,000 sq m across offices and light industrial space.
Source : Company