M7 Real Estate has raised ā¬35m for its central European fund and at the same time announced its debut investment in the region, the acquisition of Oregon House in Prague. The 14,330 sqm office building, located next to the ZliÄĆn metro station in Prague 13, (opposite the Metropole shopping center) is currently 68.3 percent let to tenants such as Schindler CZ, Proceram and IKEA, producing rent of ā¬1.5m annually with a WAULT of 2.34 years. The asset is seen as a value-add type of investment, providing significant opportunities for M7 to improve income through a targeted capital expenditure program, leasing up vacant space and other active management techniques. The investor and asset manager M7 is targeting other core plus and high-yielding opportunities in the Czech Republic, Croatia, Hungary, Poland and Slovakia.
