M7 Real Estate, acting on behalf of M7 CEREF II, has acquired a last mile, multi-let industrial scheme near Poznan, Poland. This purchase is aligned 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 asset, which comprises a total of c. 20,000m² of warehouse and ancillary office space, is 99% let to a diverse mix of local occupiers. It is located in an established industrial zone 3km east of Poznan city centre. This is the seventh acquisition on behalf of the Fund, which is now 75% invested following the first close in 2020. The target size of the fund is circa €100m.
Katarzyna Parkot, Managing Director, Poland at M7, commented: “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. We have a consistent track record of adding value to industrial assets and we have already put in place an asset management programme to improve the quality of the asset, whilst working closely with existing occupiers.”
