M7 raises €40m for European real estate fund
M7 Real Estate has raised more than €40 million ($43 million) of equity and loan note issuance for its second continental European real estate fund.
M7 European Real Estate Investment Partners II has purchased a portfolio of 42 assets in three individual acquisitions, including the Spring Portfolio that originated from a nonperforming loan. The purchases comprise more than 1.5 million square feet and from three different vendors. The combined purchase price was more than €82 million ($88 million). The assets are located throughout the Netherlands and comprise a mixture of multi-tenant office, local retail and light industrial properties.
M7 Real Estate will act as investment adviser and asset manager to the fund.
Richard Croft, M7 Real Estate’s CEO, said in a statement, “The portfolio that M7 have assembled for the fund provides a combination of exciting value-add opportunities together with some longer-let assets. This ena