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M7 snaps up five properties

Alex Hayes 09 July 2019

Alex Hayes

Journalist

+48 22 356 25 20
alex.hayes@eurobuildcee.com

Alexander Hayes is currently working as a journalist for Eurobuild Central & Eastern Europe magazine. Originally from the UK, he moved to Poland in 1995 and has been working in real estate for over four years. He has a BA in english literature from the University of Buckingham.

M7 snaps up five properties
Długosza Business Park is a warehouse and office centre developed by Triada Dom
POLAND M7 Real Estate has announced that it has acquired five office and industrial properties on behalf of its M7 Polish Active Fund (M7 POLAF) for a total of EUR 65 mln in three separate transactions.

Three of the properties are located in and around Wrocław, while an additional two office buildings were purchased in Warsaw. The properties, which in total come to around 63,000 sqm are currently 89 pct leased to 75 tenants with a WALT of three years.

The Warsaw properties are Mokotów Plaza, with 15,000 sqm and Cristal Park with 10,500 sqm both from the Azora Europa portfolio. The second transaction is the Długosza business Park developed by Triada Dom in Wrocław.

The final two properties are the Eurologis Logistics Center comprising two buildings near Wrocław near the S8 / E67 expressway totalling 21,500 sqm. Axi Immo represented the Eurologis in transaction. “We decided to sell the park mainly to raise the funds to finance new projects. We are pleased that the Eurologis Logistics Center has gone into the right hands. I’m sure that an experienced partner such as M7 Real Estate will take care of its further development,” comments Jan Kuzak the previous owner of Eurologis.

These transactions mean that the fund, which targets office and industrial investments in key regional markets across Poland, is now over 90 pct invested with a value in excess of EUR 107 mln.

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, the managing director for 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.”

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