M7 Real Estate, a pan-European investor and asset manager, has raised its first Central European fund. M7 Central European Real Estate Fund I (M7 CEREF I) has received investor commitments from a number of family office and high net worth individuals totalling over €35 million to be deployed in the region. Following this initial raise, M7 CEREF I has acquired Oregon House in Prague.
Oregon House, located in the 13th district of Prague, offers 14,330 sqm of space and is currently 68.3% let to a range of tenants including Schindler CZ, Proceram and IKEA, producing a passing rent of €1.5 million per annum with a WAULT of 2.34 years. In line with the fund's strategy, the asset provides significant opportunities for M7 to drive income through a series of asset management initiatives, including a targeted capital expenditure programme, the letting of void space and lease regears and extensions with existing tenants.
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