M7 Real Estate has spent €213m (£192m) on assets in Europe since the close of its Fund IV.
The fund has bought a mixed portfolio of 63,000 sq m of assets – three retail, two office and seven industrial – in Finland with a void rate of 29% and WAULT of two years.
It has also bought six urban logistics assets in the Netherlands over 21,000 sq m with a blended occupancy rate of 94%.
From September: M7 Euro fund raises €175m
M7 has also bought another 35 office, logistics and retail assets across Finland, Germany and the Netherlands for €151m.
Richard Croft, chief executive of M7, said the purchases were a strong endorsement of M7’s ability to raise capital and deploy it across Europe into attractive investments which could have value added by asset management.
He said: “Having put out first tranche of investor capital to work, we expect to have senior debt in place shortly to enable a second phase of acquisitions and will then be following this up with a further equity close later in Q4 2016.”
