Fundraising - JUNE 9, 2016

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M7 Real Estate fund holds €125m final close

by Andrea Waitrovich

M7 Real Estate has announced the final close of its third European investment fund, M7 European Real Estate Investment Partners III, raising €125 million ($142 million) in equity commitments. With leverage, the fund will have a gross acquisition capacity of approximately €300 million ($340 million).

M7 EREIP III is the firm’s largest fund to date, raising capital from third-party U.S. and Asian investors. Simultaneously, M7 acquired a portfolio of seven industrial assets for the fund for €34.85 million ($39.48 million), reflecting a net initial yield of 9.74 percent.

The 750,374 square-foot Zenith Industrial Portfolio was acquired from a joint venture managed by Goldman Sachs and Valad Europe and comprises seven assets across the Netherlands. These include both distribution assets and multi-tenant light industrial properties across a series of strong industrial locations, including Amersfoort, Hoofdorp, Delfgauw and Schiedam. 

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