M7 Real Estate has acquired two additional properties in Budapest, worth a total of €20m, on behalf of M7 Central European Real Estate Fund I, its first Central European fund for third-party investors. This follows the fund completing its final close, hitting its target raise of €60m of investor capital in April, as well as a €68.5m senior debt facility agreement with Starwood European Real Estate Finance. M7 acquired the Liget Center in Budapest from a fund managed by CBRE Global Investors. The property offers 10,863 sqm of office space as well as the opportunity to add further value through the renovation and leasing of 3,779 sqm of auditorium space. In addition, M7 acquired a 24,598 sqm multi-tenanted industrial property in Gödöllő from Omega Real Estate Fund. Located 30 km from the center of Budapest, the property is currently 85 percent leased to three international tenants.
