Europa Capital and M7 team up to target light industrial in the UK
Thursday, October, 22, 2009
Europa Capital has backed M7 to create a joint venture to acquire multi-let industrial assets in the UK. The joint venture, The Light Industrial Property Partnership (LIPP), will have the capacity to acquire over £130 million of assets.
LIPP made its debut purchases this week when it acquired three industrial estates in Milton Keynes, Tewkesbury and Didcot for approximately £15 million at a net initial yield over 10%. It has a further £30 million of industrial assets under offer that are expected to transact within the next few weeks.
M7 Real Estate LLP has been appointed as the asset manager for LIPP.
Noel Manns, Principal of Europa, said “We believe in the long term fundamentals of multi-let industrial estates in the UK although we are being selective in our purchases, as we believe the occupier market will remain weak for at least the next 24 months. Without very hands on active management, this asset type will not perform in the short term. We believe that M7’s very focused asset management capabilities will deliver out-performance.”
Richard Croft, CEO of M7 added “We’re delighted to have had the opportunity of partnering with Europa to create LIPP and launch M7’s first acquisition program in the UK”
For further information, please contact:
Gordon Simpson, Finsbury PR +44 20 7251 3801
Noel Manns, Europa Capital Partners +44 20 7881 6800
Notes to editors:
About Europa Capital
Europa Capital is an independent real estate fund management group operating from offices across Europe. Since 1995, Europa Capital’s Principals have collectively raised 6 real estate funds and committed to over 60 transactions totalling some €6.0 billion, across 17 European countries.
Europa Capital raised two new investment funds for European property investment in 2008 being Europa Fund III and Europa Emerging Europe which invests in Eastern Europe. Together, these funds give Europa Capital €895 million of additional equity to invest.
The Europa Funds benefit from Europa Capital’s network of exclusive Country Partners, who co-invest in acquisitions made by the Europa Funds in their territory. Many of the Country Partners have worked closely with the Principals of Europa Capital during the last 20 years. Further information can be found at www.europacapital.com.
Europa Capital Partners Ltd and Europa Capital LLP are authorised and regulated by the Financial Services Authority.
About M7 Real Estate
M7 Real Estate LLP is a fund and asset management company offering investors access to the UK industrial sector. To achieve this it provides centralised structuring, financing and reporting teams to ensure the provision of an integrated real estate asset management service for its clients. M7’s partnership structure have over 120 years of combined experience specifically in the UK and European light industrial sector and have acquired, and subsequently managed, assets totalling €3.5 billion prior to the formation of M7. Further details about M7 can be found at their website www.m7re.co.uk.
For further press information please contact:
Finsbury PR on +44 (0) 20 7251 3801
