London-based real estate investment and asset management firm M7 Real Estate has brought its European asset management capabilities in house. The firm was previously using asset management partnerships across Europe with country-focused operating platforms.
M7 has integrated these joint venture structures into the M7 mother ship by exchanging shares in the joint venture entities for shares in M7.
The executives, who now head M7’s European offices as managing directors, have become shareholders in the London-headquartered parent company are: Amsterdam heads Remko Dickhaut and Femke van Oest, Frankfurt head Alyssa Huse, Paris head Chris Pope and Copenhagen head Mette Seifert.
“This is a step change for M7 Real Estate. It consolidates our presence in the continental European markets, integrates the country teams into the M7 platform and broadens our senior management team, all of whom are fully aligned to the growth strategy of the wider group,” Richard Croft, M7 Real Estate chief executive, commented.
The move increases M7’s assets under management to more than €1.2 billion and comes shortly after the firm raised £16.1 million (€20.45 million; $25.16 million) in equity for its first real estate investment fund.
Last December, Real Estate Investment Partners II fund (REIP II) was raised and will have firepower of around £35 million after the inclusion of debt finance.
A major part of the capital has already been deployed, with the acquisition of 11 real estate assets in England for £25.7 million.
Although the amount of capital raised by M7 was relatively small, the fundraising is significant because the firm previously was primarily an advisory business but recently instigated a transition to include real estate investment management services within its offer.