8 Jul 2019
M7 acquires further €65 million of assets for Polish fund
M7 Real Estate (“M7”), the pan-European investor and asset manager, announces that it has acquired a further five office, light industrial and logistics assets in Poland on behalf of its M7 Polish Active Fund (“M7 POLAF” or the “Fund”) for a total of €65 million in three separate transactions.
The assets are in well-connected locations across Poland with three mixed use office and logistics assets in Wrocław, one of Poland’s strongest regional cities, and two Grade A office buildings in Warsaw. The acquisitions total approximately 63,000 sqm of leaseable space which is currently 89% let to 75 tenants with a WALT of 3 years.
These transactions mean that the Fund, which targets office and industrial investments in key regional markets across Poland, is now over 90% invested with a value in excess of €107 million.
David Ebbrell at M7, said: “The latest acquisitions into M7 POLAF complement the assets acquired earlier in the year nicely and provide further geographical and sector diversity underpinned by a strong tenant profile. The Polish occupier markets continue to strengthen creating an ideal environment for medium term rental growth which, in the right assets and locations, will drive a strong and stable income return for the fund.”
Katarzyna Parkot MD Poland, commented: “We are delighted to grow our AUM in Poland with the acquisition of these properties into M7 POLAF. We have identified a number of opportunities to add value which we look forward to implementing in order to maximise performance for the fund.”