Oxford uses M7 in £200m+ logistics portfolio acquisition

Oxford Properties  has acquired a portfolio of seven UK logistics assets from M&G UK Property for £202.5 million.

The assets include three single-let and four multi-let assets, comprising approximately 764,000 sq ft (70,978 sq m) of space. The properties are located in London and the South East with two assets in Birmingham and are 98% occupied.

The opportunity was sourced and secured through Oxfords portfolio company, M7 Real Estate, acquired in September 2021 to help accelerate its ambitions to build a European logistics portfolio of scale.

In the first six months of Oxford’s strategic ownership. Oxford, itself owned by the Ontario municipal employees pension fund OMERS, has deployed over £1 billion of capital through the M7 platform.

The purchase from M&G increases Oxford’s weighting to larger distribution and warehouse assets. Its portfolio of European supply chain infrastructure also includes urban infill, ‘last mile’ assets in dominant urban centres across Europe.

Alongside its big-box and urban infill holdings, Oxford said it is also actively developing new supply chain infrastructure including West Midlands Interchange, the UK’s largest logistics project. The company plans to deploy £6 billion over the next three years.

“This transaction kickstarts our program to acquire larger distribution and warehouse assets, a key pillar of our pan-European logistics strategy,” said Pierre Leocadio, head of investments, Europe, at Oxford Properties.