M7 Real Estate, the pan European investor and asset manager, has undertaken its first investment in Denmark on behalf of M7 European Real Estate Investment Partners IV (“M7 EREIP IV” or the “Fund”), acquiring 10 logistics assets for a total of €69.8m. The acquisitions follow the Fund’s final close which was announced in November 2017 taking funds raised to c. €400m, making it M7’s largest fund to date. The Fund has a total investment capacity of over €800m, including gearing, of which approximately €600m has now been deployed.
The newly acquired assets, which comprise circa 117,000 m² in total, are fully let to 11 tenants with an average lease length of circa 6 years and are strategically located close to the motorway network around Greater Copenhagen, on the island of Funen and the Jutland peninsula (the Triangle region incorporating the three cities of Kolding, Vejle and Fredericia). The majority of the assets are single let and have been acquired through sale and leaseback structures.
David Ebbrell, M7’s Chief Investment Officer, commented: “These acquisitions in Denmark provide the Fund with additional geographical diversity whilst strengthening the income profile of the fund. The transactions continue to underpin M7’s strategy to position EREIP IV as an attractive income-focussed fund.”