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M7 Real Estate buys regional UK portfolio for £117M

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M7 Real Estate buys regional UK portfolio for £117M

M7 Real Estate acquired a portfolio of 92 multilet assets primarily in the U.K. regions for £117 million.

The assets were acquired on behalf of the M7 Real Estate Investment Holdings subsidiary and mostly include the properties that were marked for acquisition by M7 Multi-Let REIT plc before it shelved its plans for an IPO in November.

The properties comprise the Marble portfolio and M7 REIP II, and have more than 600 tenants producing an annual rental income of £11.2 million, according to the Dec. 18 report.