Pan-European investor M7 Real Estate 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 €66 mln in three separate transactions.
The assets are in well-connected locations across Poland with three mixed use office and logistics assets in Wroclaw, M7 said, and two Grade A office buildings in Warsaw. The acquisitions total approximately 63,000 m2 of leaseable space which is currently 89% let to 75 tenants with a weighted average lease term of 3 years.
'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,' said M7's David Ebbrell.
'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,' Ebbrell added.
The 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 mln.
'We are delighted to announce that we have successfully and effectively increased our portfolio in Poland,' said Katarzyna Parkot, M7's managing director 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,' Parkot concluded.