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M7 & Oaktree JV disposes of Archimedes for £43.2m to Regional REIT

M7 has, together with its joint venture partner funds managed by Oaktree Capital Management L.P., sold its regional UK office investment company, Archimedes Real Estate Investment L.P. to Regional REIT for £43.2 million (c.€48.64 million).

Archimedes owns 17 multi let-office assets, 15 of which are located in England and two in Scotland. The portfolio contains 206 lettable units, totalling 522,244 sq ft of GLA, which are all self-contained, providing each of the 136 tenants with “own front door” access. The current contracted rent for the portfolio is circa £3.75 million (c.€4.22 million) per annum.