M7 Real Estate has acquired seven industrial and warehouse assets on behalf of a joint venture targeting ‘value-add UK real estate’ with a fund managed by the D E Shaw group, for an undisclosed price.
The acquisitions include two multi-tenant light industrial assets and five single-tenant warehouses with a total floor area of 465,000 sq ft. The assets are located in Manchester, Coventry, Newcastle-upon-Tyne and Basildon.
Miles Chuter, senior acquisitions manager at M7 Real Estate, said: “Despite the macro-economic headwinds, we believe that these well located regional assets provide an exciting mix of long-term income and opportunity to create value through asset management initiatives.
“These latest transactions demonstrate the strength of our working relationship with the D E Shaw group and we are now focused on executing our business plan and further expanding the portfolio, if the right opportunities arise.”
M7 was advised by DTRE, Addleshaw Goddard, Hollis and Nova-Ambiente.
