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.
No comments yet