M7 Real Estate Acquires €80 Million French Industrial Portfolio for Oxford Properties and AustralianSuper's European Supply Chain Income Partnership
M7 Real Estate has acquired a portfolio of four industrial and logistics assets across France for approximately €80 million, the firm announced June 16, 2026. The transaction was completed on behalf of the European Supply Chain Income Partnership (ESCIP), a pan-European industrial and logistics investment vehicle backed by a joint venture between Oxford Properties Group Group and AustralianSuper. The portfolio was acquired from a 90/10 joint venture formed by PGIM's European Core Plus strategy and Alderan, a French real estate management company.
First Continental European Acquisition for Oxford Properties and AustralianSuper Joint Venture
The transaction represents the first acquisition in continental Europe for the Oxford Properties Group and AustralianSuper joint venture since its formal completion in April 2026. That joint venture was formed through AustralianSuper's acquisition of a 50% stake in Oxford's approximately €840 million industrial and logistics portfolio and its M7 platform, a deal announced in January and closed in April. ESCIP is targeting a €4.5 billion portfolio over the next three to five years.
The approximately 109,000 square meter portfolio is 83% let and is located across established distribution hubs in France, including Lyon, Marseille, Nancy, and Angers. Key occupiers include ID Logistics and Pomona EpiSaveurs. According to M7, the portfolio presents an opportunity to refurbish and lease up vacant space, improve sustainability credentials, and grow the income profile.
This is M7 Real Estate's third investment on behalf of the ESCIP platform. The first two acquisitions were in the Greater Manchester area earlier in 2026, totaling approximately £60 million.
PGIM and Alderan Exit After Value Creation Since 2020
The sellers, PGIM Real Estate and Alderan, originally acquired the portfolio in an off-market transaction during 2020. Nabil Mabed, Head of France, Spain & Portugal at PGIM Real Estate, said the firms had "created significant value through asset management hand in hand with our operating partner Alderan" since that acquisition.
"We are happy to complete a strong exit for our European core plus strategy in a market where overall transaction volumes are still low," Mabed said. "This is a demonstration of the resilience of the French logistics market and of the quality of the portfolio which has a potential for further value creation under M7's ownership."
Executives Comment on French Logistics Market
John Pow, Managing Director at M7 Real Estate, said the firm is focused on executing its growth strategy for the platform following the completion of the Oxford Properties and AustralianSuper joint venture.
"This milestone transaction underscores our conviction in the sector and our view on the French market, as we look to scale the JV's portfolio and continue deploying capital into high growth markets across the UK and western Europe," Pow said. "Our immediate focus is on undertaking our property level asset management plans, leveraging M7's expertise and on the ground presence to capitalise on the continued demand for logistics space in the French market."
Alicia Peters, Vice President, Industrial & Logistics at Oxford Properties, described the acquisition as "an important step" in growing the ESCIP portfolio, noting that the French assets complement Oxford's existing holdings by providing exposure to key logistics markets outside of Paris.
"This transaction underscores both M7's ability to source and execute the acquisition of high quality, well located assets across Europe and reflects our continued conviction in the industrial and logistics sector," Peters said.
Matthew Fidge, Investment Director at AustralianSuper, said the acquisition highlights the joint venture's conviction in a European multi-let logistics strategy and the benefit of M7's established presence in the French market.
"AustralianSuper looks forward to working with our partners to deliver attractive risk-adjusted returns for our members, and are ambitious to continue this momentum as we seek to further scale the ESCIP portfolio alongside the Oxford and M7 teams," Fidge said.
ESCIP Platform and Growth Target
With a stated target of €4.5 billion over three to five years, ESCIP has indicated it will continue to pursue industrial and logistics assets across key markets in the UK and western Europe. M7 Real Estate serves as the pan-European investor and asset manager for the platform. Oxford Properties Group and AustralianSuper — Australia's largest superannuation fund — are the joint venture partners backing the vehicle.
Sources: M7 Real Estate, June 16, 2026
