The purchases were made under the designation M7 Portuguese Active Fund, and include several typologies, including urban logistic, multi and single tenant (48%), office buildings and business parks (22%) and retail parks (30%), states the company in a release. These assets have a total combined GLA of 101.000 sqm, of which 87.8% are currently occupied by 41 tenants.
Leonardo Peres, M7’s general manager for Portugal, states that «we are extremely satisfied and excited with the acquisition of this first set of assets for our new fund in Portugal (…). This acquisition shows M7’s ability to identify investment opportunities as long as there is the opportunity to reposition and create added value for the buildings. These transactions offer a combination of robust and diversified income, combined with a vast set of opportunities to add value to the assets, through a properly planned and identified investment program for the buildings. Finally, a solid pipeline was identified, and we expect to announce new acquisitions soon ».
Quoted by Negócios, the company guarantees that the Portuguese fund «will keep having as its main goal, the acquisition of buildings with ‘value-add’ profile in Portugal, namely in the main urban centres of the Greater Lisbon and the Greater Porto».
Photo: MSeven Real Estate