Le mie ricette per la real estate communityM7 Real Estate (“M7”), the pan-European investor and asset manager, announces the acquisition of two modern urban logistics schemes (the “DUO” portfolio) in the Upper Silesia region of Poland on behalf of M7 CEREF II (the “Fund”) from Polish developer, 7R.
The acquisition of the DUO portfolio, comprising a total of 22,500 sq m GLA, is in line with the Fund’s strategy of targeting value-add and core plus logistics, industrial and office investments in the key Central European markets of Poland, Hungary and Croatia.
The first property is a c. 13,000 sq m Grade A warehouse located in Siemianowice, 8km north of Katowice. The asset was constructed to a high standard in 2018 and is fully let to two tenants.
The second property is located in Sosnowiec, 5km north east of Katowice, and comprises c. 9,500 sq m of modern warehouse space, built in 2015. The asset is 93% let to 11 tenants, providing a diverse income profile and short to medium term active asset management opportunities to improve the value.
This is the third acquisition on behalf of the Fund, which is now 50% invested following a first close in 2020. The target size of the Fund is circa €100 million, with leverage, and a significant pipeline of potential investments has been identified across the region.
Source : Company