M7 Real Estate, on behalf of M7 Real Estate Investment Partners VI (M7 REIP VI), has acquired a total of six office and logistics assets, from six vendors, for £22.4 million ($28.6 million).
M7 is reinvesting the proceeds from the sale of a portfolio of U.K. regional assets to Regional REIT in August 2018 for £31.4 million ($40 million). This is in line with M7 REIP VI’s strategy of investing in regional, high-yielding real estate assets, with strong fundamentals and asset management upside, which generate stable attractive income distributions for investors over the medium to long term.
The acquired assets total 1.04 million square feet and comprise three office assets, located in Liverpool, Stirling and Glasgow, and three logistics assets in Barnsley, Workington and Inverclyde. The assets were acquired for an in-place net initial yield of 10.6 percent and have limited vacancy but provide significant accessible reversion.
M7 REIP VI was launched in December
