Buyers have not been identified, but the company states that these are family offices. The operation was carried out through the joint venture that M7 has established with an American manager company.

The two assets amount a total of 22,000 m² in an established logistics area. Both were acquired in January 2016 with a vacancy rate of 30% and, after the new marketing strategy applied, another 8,369 m² (15 units) were occupied, leaving the assets occupied at 100%.

If in January 2016 the annual revenues of space rents amounted €653,000, the value increased by 23% to €803,000. The average length of leases agreements also increased from 1.86 to 2.32 years. Go Logistic, Ibersol, Anicolor, Climamor or Everything is New are among the main occupants.

Leonardo Peres, Managing Director of M7 Real Estate in Portugal, believes that "the early sale of these assets under this joint venture and the sale price achieved prove our ability to deliver returns to our investors through our asset management and added value”. 

He states that "the improvement of the Portuguese market led to a greater lack of investment opportunities, and our 5-year estimate for the sale of assets has been reduced, reaching the same expected returns".

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