London-based real estate investment firm M7 Real Estate has bought six office and logistics assets from six vendors on behalf of M7 Real Estate Investment Partners VI, M7 REIP VI, for 22.4 million pounds ($28.5 million).
The purchased assets total 1,043,055 square feet and consist of three office assets situated in Glasgow, Liverpool and Stirling as well as three logistics assets in Inverclyde, Barnsley and Workington.
M7 Real Estate is recommitting the proceeds from the divestment made in August 2018 of a portfolio of UK regional assets to Regional REIT for $40 million.
The move is consistent with M7 REIP VI’s strategy of infusing in regional, high yielding real estate assets which generate stable attractive income distributions for backers over the medium to long term.