October 10, 2017 / 6:46 AM / in 10 days

M7 Multi-Let REIT to raise up to 300 mln stg in London IPO

London, Oct 10 (Reuters) - M7 Multi-Let REIT Plc, a newly-established firm set up to invest in industrial and office property, said it aims to raise up to 300 million pounds ($394.95 million) from listing as a real estate investment trust (REIT) on the London stock market.

The company said it has agreed to buy 93 property assets across two UK portfolios for 119.8 million pounds, on condition that its listing is successful.

The REIT’s investment manager, M7 Real Estate, already manages over 995 industrial, office and retail properties worth approximately €4.6 billion ($5.42 billion), with its British portfolio currently valued at £1.1 billion.

M7 said the listing would only go ahead if it raises at least 147 million pounds. ($1 = 0.7596 pounds) ($1 = 0.8486 euros) (Reporting by Rachel Armstrong)

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