FINANCE: European investment manager M7 has invested £25.7m in 11 high-yielding UK properties on behalf of its first fund.
The light industrial, office and retail properties were acquired from various vendors and have a blended initial yield of around 12.5%. They are located in the Midlands, the North West and North East and comprise a total of 460,000 sq ft of space.
M7 bought the properties on behalf of its new fund, M7 Real Estate Investment Partners II (REIP II).
The fund has raised £16.1m from high net worth individuals. With gearing, REIP II is targeting investments of approximately £35m.
M7 has around €1bn of real estate investments in the UK, Denmark, France, Germany and Poland.
