Global real estate company Oxford Properties Group, headquarters in Toronto, the real estate business of Canadian pension fund OMERS, is in talks to takeover M7 Real Estate, the pan-European investor and asset manager, according to media reports.
The sources say the deal could be worth €5.3 billion.
According to a statement by M7 Real Estate, Mailbox REIT has postponed its proposed IPO on IPSX ‘as a result of a potential acquisition of M7 Real Estate Ltd by a global institutional commercial real estate investor and asset manager.‘
Mailbox REIT owns the Mailbox, a large prime office-led mixed use property in Birmingham.
”M7 Real Estate is the current ultimate beneficial owner of the property and, post IPO, would act as both the Company’s asset manager in respect of the property and as its AIFM, through its subsidiary M7 Real Estate Financial Services Ltd.” said M7 in a statement.
”While both the Board and M7 Real Estate’s management team remain fully committed to the IPO, and the Investor is supportive of it, all parties feel it is prudent and fair to prospective shareholders in the Company to wait until there is certainty regarding any potential Transaction before continuing with an IPO for the Company. It is anticipated that there will be clarity regarding the Transaction in January 2021, at which point a further announcement will be made,” stated in the statement.