M7 Real Estate has invested an undisclosed amount to buy a last-mile industrial asset in Poland for its M7 CEREF II fund.
The manager said it has bought the multi-let industrial scheme near Poznan for the fund which targets value-add and core-plus logistics, industrial and office investments in the key Central European markets of Poland, Hungary and Croatia.
The asset, which comprises a total of 20,000sqm of warehouse and ancillary office space, is 99% let.
M7 said the latest transaction is the seventh acquisition on behalf of the fund, which is now 75% invested following its first close last year.
M7 CEREF II’s target size is €100m, with leverage, and a significant pipeline of potential investments has been identified across the region, the manager said.
Katarzyna Parkot, managing director, Poland at M7 Real Estate, said: “Despite strong investor demand across the European warehouse market, we are really pleased to have completed this acquisition, leveraging our expert local knowledge to identify this high-quality value-add opportunity.
”This asset in Mogilenska is a strong addition to the Fund’s portfolio, following the acquisition of the DUO portfolio earlier this year.”
To read the digital edition of the latest IPE Real Assets magazine click here.