15 May 2017
Amsterdam
Reporter: Theo Andrew

M7 purchase 15 Dutch assets for €55 million


M7 Real Estates has acquired 15 Dutch assets for a combined €55 million.

The acquisitions were made across five transactions, the largest being an 11-strong portfolio spanning across 51,500-square metres of office space for €38.8 million.

Locations include Amsterdam, Hilversum, Enschede and Weesp, with an average occupancy rate of 79.9 percent.

Tenants include KPMG and ASUS, while 40 percent of its income is derived from government bodies.

Of the remaining four individual assets, the most notable included a multi-let office and retail space Twenteplein 1 in the Eastern Netherlands for €8.3 million.

The 9,493 square metres of space has a vacancy rate of 18.5 percent.

The acquisitions were made on behalf of M7’s European Real Estate Investment Partners (EREIP) IV fund.

Other purchases for the fund include Dalsteindreff 141, a 3,583-square metre office building in south-east Amsterdam for €3.75 million.

In addition, M7 acquired two warehouses Strijkviertel 27 in Utrecht and Klompenmarkerstraat 3-5 in Ridderkerk, for approximately €2.4 million each.

According to M7, it is continuing to explore compelling investments across the European continent.

“These most recent acquisitions for EREIP IV illustrate M7’s commitment to diversifying its pan-European portfolio, presenting exciting opportunities to enhance capital and rental values”, said David Ebbrell, chief investment officer of M7.

M7 received legal, technical and environmental advice from Van Doorne, Savills and Ambiente on all of the acquisitions.

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