M7 Real Estate (“M7”), the pan European investor and asset manager, has undertaken its first acquisition on behalf of M7 CEREF II (the “Fund”), its value-add opportunities fund focused on offices and logistics / industrial properties in key Central European markets, including Poland, Hungary, Croatia and Czech Republic.
M7 CEREF II has held its first close and is targeting further closes to raise up to €100 million during Q3 2020. The target size of the Fund is circa €150 – €200 million with leverage and a significant pipeline of potential investments has been identified across the region.
The first investment, which is located in a well-established office and commercial district in the city of Katowice, in South East Poland, is a multi-tenanted modern office building comprising 12,672 sq ft over ground and six upper floors and with 183 car parking spaces. It is let to eight tenants, reflecting a diverse income profile and strong covenants including Santander, Capgemini and SGS.
The property provides a range of amenities such as a canteen, coffee bar, medical centre and a bank, whilst also being 200 metres away from Katowice’s largest shopping mall, Galeria 3 Stawy, and benefitting from strong transport links, including the adjacent A4 motorway providing direct access to the city centre and airport.
Source : Company