M7 Real Estate has sold an £80m (€95m) portfolio of UK electronic warehousing assets to Realty Income.
The pan-European investor and asset manager specializing in multi-tenant properties said the fully occupied portfolio comprises 11 assets with a total area of 481,300 square feet.
M7 said 10 assets were sold on behalf of M7 Box + I, with the remaining asset being sold for M7 REIP IX.
Having built up the portfolio by January 2021, M7 has focused on selecting UK e-warehouses in locations suitable for last mile delivery, with potential for future lettings and capital growth, said the responsible.
David Ebbrell, CEO of M7 Real Estate, said: “Selling Box+I in a relatively short timeframe demonstrates our ability to identify and build an attractive portfolio spread across competitive locations.
“We saw an opportunity to benefit from the strength of the investment market and the sentiment towards one of the most attractive UK property asset classes: e-warehouses. After executing the accumulation and value creation strategies set out in the funds’ business plans, we decided to sell the portfolio.
To read the latest edition of the latest IPE Real Assets magazine, click here.