Pan-European investor and asset manager M7 Real Estate has bought two urban logistics assets in Poland on of a European value-add and core-plus fund.

The manager, on behalf of the M7 CEREF II fund, has invested an undisclosed amount to buy the 22,500sqm DUO portfolio in the Upper Silesia region of Poland from Polish developer 7R.

The first property is a fully-let 13,000sqm warehouse located in Siemianowiceis fully let to two tenants. The second property, constructed in 2015, is located in Sosnowiec. It comprises 9,500sqm of warehouse space and is 93% let.

This is the third acquisition on behalf of the fund, which is now 50% invested following a first close in 2020, the manager said.

The target size of the fund is €100m, with leverage, and a significant pipeline of potential investments has been identified across the region.

The fund targets value-add and core-plus logistics, industrial and office investments in the key Central European markets of Poland, Hungary and Croatia.

Katarzyna Parkot, managing director, Poland at M7 Real Estate said: “The DUO portfolio, in the Upper Silesia region which is home to the largest cluster of industrial assets in Poland, will strengthen the M7 CEREF II portfolio.

“Additionally, we are confident that we will improve the rental income over time through an ongoing asset management programme as we expect demand to remain strong for logistics assets providing access to Poland’s major motorways.”

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