After entering the Hungarian market in 2016, M7 Real Estate (“M7”) has chosen the Budapest office of CBRE to manage the entire Hungarian real estate portfolio within the M7 CEREF I Fund.
M7’s Central European Real Estate Fund I (“M7 CEREF I”) acquired two retail centres, the Atom Centre in Paks and Csillagvár Shopping Centre in Budapest, together with a logistics warehouse in Dunaharaszti in late 2016. The pan-European investor continued to increase its presence in 2017 with the acquisition of properties including the 62,000 sq m Aerozone Logistics Park in Vecsés, Eger Business Park (totalling 72,000 sq m), the Liget Centre (10,900 sq m) as well as a further five logistics centres in the area surrounding Budapest. M7 CEREF I now has circa 210,000 sq m of retail, office and industrial property in Hungary.
Zsolt Kákosy MRICS, MBA Director of Asset Services at CBRE Hungary commented, “The acquisition of the properties demonstrates that M7 has faith in Hungary and its growing economy. The fact that CBRE has been selected to manage the entire Hungarian portfolio highlights the continued strong performance of the property managers of CBRE.”
CBRE is also actively working with M7 to help create a new retail concept for Csillagvár Shopping Centre in Budapest.
M7 Real Estate, is one of the leading specialists in the pan-European, regional, multi-let real estate market and manages circa 800 assets, comprising 72 million sq ft and circa €4.1 billion. In Central and Eastern Europe, M7 has offices in Bratislava, Budapest, Prague, Warsaw and Zagreb with a team of 16 people.