M7 Real Estate signs six new tenants at Zagreb’s Mani Business Centre taking occupancy to 91%

18 June 2018

Croatia, 18 June 2018 - M7 Real Estate (“M7”), the pan European investor and asset manager, announces that it has agreed six new lettings across circa 5,000 sq m of space at Mani Business Centre in Zagreb, Croatia. As a result of M7’s turnaround strategy for the property, the number of tenants has increased from 12 to 19, significantly improving the occupancy to 91% from 54% on acquisition. New tenants include a wide range of businesses including a facilities management service provider to construction and IT industry operators.

In addition, M7 has successfully negotiated six lease renewals totalling €410,000 p.a., improving the tenant retention rate over the past six months to 100% and increasing the Weighted Average Lease Term from 1.4 years to 3.4 years.

M7 acquired Mani Business Centre, a 13,915 sq m multi-tenanted office building, in December 2016 on behalf of M7 CEREF I. Following the purchase, M7 has focused on improving the appeal of Mani Business Centre through responsive and proactive tenant and leasing management, re-engaging with the existing tenants to improve relationships and communications and has undertaken some selective capital expenditure.

Mirta Ceranac Poljak, Managing Director of M7 Real Estate in Croatia, commented: "Our successful asset management strategy for Mani Business Centre emphasises our ability to apply our local market expertise to oversee a turnaround of underperforming assets. Additionally, it proves the importance and the positive difference that can be made through proper asset management and tenant care. It is our goal to replicate this activity to further improve and implement high quality standards across other assets in the Croatian market."

M7 acquires Westlink Industrial Estate Dublin for €13.9 million

5 December 2018

London, 5th December 2018 – M7 Real Estate (“M7”), the pan-European investor and asset manager, announces that it has purchased Westlink, a large multi-let industrial estate on the Kylemore Road, Ballyfermot, Dublin 10 in the Republic of Ireland, on behalf of an M7 managed fund. The asset has been acquired from a private investor in an off market transaction for a total of €13,870,000, which equates to €72.36 psf and reflects a Net Initial Yield of just under 7%. read more

M7 completes 62,000 sq ft of lettings in Colchester

28 November 2018

London, 28th November 2018 - M7 Real Estate (“M7”), the pan-European investor and asset manager, announces that, acting on behalf of a major institutional fund, it has completed the letting of a total of 62,000 sq ft, across two units, on Severalls Business Park, Colchester. read more

M7 agrees sale of pan-European light industrial portfolio for c.€486 million

26 November 2018

London, 26th November 2018 – M7 Real Estate (“M7”), the pan-European investor and asset manager, announces that it has reached an agreement along with its joint venture partner, Starwood Capital (“Starwood”), for the sale of MStar Europe for c.€486 million to a global asset management and financial services business. The sale comprises a portfolio of 50 light industrial assets, which will continue to be managed by M7. read more