12 Feb 2020

M7 completes wave of lettings at Mani Business Centre, Zagreb

M7 Real Estate (“M7”) the pan European investor and asset manager has, on behalf of one of its funds, M7 CEREF I, completed lease agreements on 4,500 sq m at Mani Business Centre in Zagreb, Croatia, taking the occupancy to 92%.

M7 has recently agreed four new lettings to Croatia Airlines, axs Croatia, Navigare Yachting and Arbor Medical across 1,300 sq m. Additionally, over the past three months, M7 undertook a capex programme, including the refurbishment of space, which led M7 to successfully negotiate two lease renewals with Croatia Airlines and Ovacije across 3,200 sq m. The WALT has increased from 2.6 years to 4 years as a result of these renewals and new lettings.

Mirta Ceranac Poljak, Managing Director of M7 Real Estate Croatia, commented: “Since acquiring Mani Business Centre we have demonstrated that our strategy of diligent asset management together with understanding and supporting our tenants’ requirements has resulted in the retention of all of the existing tenants and has also increased occupancy by attracting new tenants.

“The revenues and attractiveness of Mani Business Centre have increased as a result of the management approach of M7 and has demonstrated to investors that our approach and knowledge of the market delivers results, thus building investors’ confidence and enabling M7 to strengthen its position in the Croatian Market.”