12 Sep 2019
M7 agrees 4,500 sq m of office lettings as it grows asset management platform in Croatia
M7 awarded two asset management and a number of new advisory mandates in Croatia
M7 Real Estate (“M7”), the pan-European investor and asset manager, announces that it has secured two new asset management mandates and several new advisory mandates in Croatia.
M7 is managing a high quality office building in Varaždin and has increased the occupancy of the asset to 65%, up from 32% within one year of being awarded the mandate having repositioned the property from a single to multi-tenanted building.
M7 also announces that it has been appointed to manage a third party portfolio of more than 200 mixed use assets, primarily comprising office space throughout Croatia. M7 has been instructed to increase the occupancy of the portfolio in conjuction with advising on the sale of non-core assets.
M7 currently manages more than €100 million of assets in Croatia including the MANI Business Centre, which is managed on behalf of M7 Central European Real Estate Fund I (“M7 CEREF I”).
Mirta Ceranac Poljak, Managing Director, M7 Croatia, commented: “Within two years of expanding into Croatia, we have successfully developed a specialist asset management and advisory platform implementing professional industry standards on behalf of both local and international investors, as well as property companies.
“The award of third party mandates was a result of the extensive asset analysis and portfolio optimisation plan, which we presented to the clients, and endorses the invaluable local expertise we can provide in the region.”