European real estate fund holds €80m first close
M7 Real Estate has raised more than €80 million ($87 million) of equity commitments in a first close of its latest European investment fund, M7 European Real Estate Investment Partners III.
It marks the largest initial fund close M7 has achieved as a business to date.
The value-added fund targets assets that offer both sustainable income streams and asset management opportunities in the retail, office and multi-tenant industrial sectors in Germany and the Netherlands.
Simultaneously, M7 has exchanged contracts on €130 million ($142 million) of acquisitions for the fund in four separate transactions, consisting of three portfolios and a single asset.
The four acquisitions comprise 21 assets in Germany and the Netherlands with the combined portfolio providing an initial income of €13.2 million ($14.4 million) from 143 tenants.
The assets include six multi-tenant office assets totaling 229,271 square feet of rentabl