Szecsenyi & Partners has advised M7 CEREF II on its acquisition of the Terrapark Office complex near Budapest. CMS advised the seller.
The acquisition was carried out by pan-European investor and asset manager M7 Real Estate on behalf of the M7 CEREF II fund.
According to M7, M7 CEREF II has so far acquired eight assets totaling approximately 110,000 square meters across Hungary, Croatia, and Poland, with the fund now being almost fully invested. The target size of the fund is approximately EUR 100 million, with leverage.
"As COVID-19 restrictions begin to ease, we believe Terrapark will appeal to a broad range of occupiers looking for high-quality offices, with green space, near Budapest," commented M7 Real Estate Transactions & Asset Manager Tibor Raduly. "Our active asset management program provides great potential to generate additional income from Terrapark, as we continue to target attractive returns for our investors over the coming years."
The Szecsenyi & Partners team consisted of Partners Laszlo Szecsenyi and Balazs Vagvolgyi.
The CMS team included Senior Counsel Andras Klupacs.