M7 holds €60m final close for Central European fund
M7 Real Estate has held a €60 million ($63.9 million) final close for its M7 Central European Real Estate Fund I, reaching its equity fundraising target.
M7 Central European Real Estate Fund is the firm’s first Central European fund for third-party investors. The fund targets both core-plus and high yielding regional opportunities across major cities in the Czech Republic, Croatia and Hungary, Poland and Slovakia. Investments have been sourced across all sectors and are managed by M7.
The final close follows the fund’s €35 million ($37.3 million) first close in October 2016. Following the initial raise, M7 CEREF I acquired the Oregon House in Prague, a 154,247 square-foot office building. In addition, following the fund’s initial close, M7 acquired a real estate portfolio in Budapest from Rec