M7 buys €35M portfolio in Portugal

M7 buys €35M portfolio in Portugal

The buildings were acquired from different sellers in distinct transactions by M7 Portuguese Active Fund (M7 PORAF), reports Property EU.

The portfolio has a total combined area of 75.232 sqm spread across industrial and logistic assets in Lisbon, Porto and Evora, with a 90% occupancy provided by 13 tenants.

For Leonardo Peres, Managing Director at M7 Portugal, «in a market with little offer, this portfolio is a good opportunity to add value and returns through a new management. Our focus now is to introduce a new «business plan» for this portfolio, which includes an increase in rents and capital value», quoted IPE Real Assets.

Fund M7 PORAF was launched during last year’s third quarter. In March it carried out its first acquisition for 55.7 million euro. The fund currently has a 91 million euro portfolio in Portugal, including 22 office, logistic, industrial and retail park assets.

In July, during a lunch organized by Vida Imobiliária, Leonardo Peres announced that M7 intended to create a new fund capable of investing around 100 million euro in our country. The fund’s focus is mainly on assets which offer the management company an opportunity to add value, in particular, in the multi-tenant segment, which is often «neglected and considered inefficient due to its small dimension and the need for intensive management». On the other hand, the office and logistic segments «have shown themselves to possess a very interesting and robust occupational dynamic in the city of Porto».

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