M7 Real Estate has launched its first fund dedicated to the French market and made a portfolio acquisition of 23 assets in greater Paris for €60.2m (£52.9m) to seed it.
M7 French Active Fund has also received investor commitments from high net worth, family office and institutional investors based in Asia, the US and Europe for €30m in a first close with a second close expected during the next quarter. The fund will target high yielding regional real estate in core regions of France, including Paris, Marseille and Lyon.
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