M7 Real Estate, a pan-European investor and asset manager, has acquired a further five office, light industrial and logistics assets in Poland on behalf of its M7 Polish Active Fund (M7 POLAF) 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 Class 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 ,Managing Director for Poland, commented: "We are delighted to announce that we have successfully and effectively increased our portfolio in Poland. Additionally, we have decided to expand our business by undertaking the asset management activities. We are expecting that this opportunity will add value and will allow for ongoing dynamic growth of M7 Poland.”