M7 Real Estate (“M7”), the pan-European investor and asset manager specialising in multi-tenanted regional real estate, announces that it has completed the sale of two further assets totalling 130,000 sq ft, on behalf of M7 Real Estate Investment Partners III (“M7 REIP III” or the “Fund”).
Fountain Court, Middlesbrough and Baglan Energy Park, Port Talbot were sold to two different parties each purchasing for their own occupation. Both transactions were agreed and completed in the last few months.
M7 REIP III was launched in 2015 and invested in high yielding regional properties in the UK with attractive real estate fundamentals. Its strategy is to deliver opportunistic, risk-adjusted returns by targeting smaller, mixed-use non-performing assets that do not have a traditional home in the market and implementing asset management initiatives to improve income at the same time as exploiting historically low funding costs to establish a substantial income carry trade. The Fund is being sold down and currently has five remaining assets totalling circa 388,000 sq ft.
Victoria Lane, Senior Asset Manager at M7, commented: “M7 REIP III continues to perform as per its business plan and the two sales were a great result for us in Q1.
“We continue to see demand for both regional industrial and office assets across the UK, especially those with good transport links and an abundant employment pool close by. Both sales saw the occupiers consolidate various sites to create more efficient workspaces.”