M7 Real Estate has completed the acquisition of three U.K. retail warehouse assets on behalf of M7 Real Estate Investment Partners V (REIP V), for £18.4 million ($24.2 million) in three separate transactions.
The assets, which comprise a total of 138,515 square feet, are located across the United Kingdom in Swansea, Hull and Birmingham. They are let to tenants including B&M, Wickes, Iceland and Poundland.
The purchases continue M7’s strategy of acquiring low rent, low capital value retail warehousing in strategic locations, with the potential to add value through active asset management.
M7 REIP V’s portfolio now comprises 33 assets with a total value in excess of £150 million ($198 million
