Martley Capital has sold two warehouse assets in Croatia from its Central European Value Add Fund (CEREF). The properties, Logistics Centre Vetel and Koledovcina 2, provide a total of 21,160 sqm GLA and are fully let to local and national tenants. The Vetel asset has a WALT to break of 3.3 years, while Koledovcina 2 has a WALT to break of 1.8 years. Both are located on the outskirts of Zagreb with good access to the city’s transport network.
Acquired in 2021, the assets have undergone asset management initiatives including introducing indexation, service charge, re-gearing leases and completing new lettings, which increased income. They were sold to well-established Croatian investors.
Martley will continue as property and asset manager, overseeing the ongoing management programme.
“We are pleased to have completed the sale of two properties from our second Central European Fund, launched in 2021. The performance of the assets and the sales outcome reflect our expertise and commitment to delivering returns for investors,” said Mirta Ceranac Poljak, Managing Director of Martley Capital’s Croatian office.
She added: “By remaining asset manager for both properties, we strengthen our position in the local investment community, which supports further growth and the development of the Croatian market.”
Martley Capital sees strong potential in the Croatian industrial and logistics sector, with plans to deploy further capital in Central Europe in 2025 and continue building its pipeline on behalf of investors.
Launched in December 2023, Martley Capital manages around £900 million in assets across 28 mandates, with a team of 40 across five offices in the UK and Europe.
