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POLAND First buy for latest M7 fund in Katowice

Investment & finance
London-based investor and asset manager M7 Real Estate has completed the first acquisition for its M7 CEREF II fund: the Atrium building in Katowice.

The app. 12,670 sqm property, which is situated at ul. Graniczna 54 in the city’s Dolina Trzech Stawów district, includes among its eight tenants Santander, Capgemini and SGS. It has six upper floors and 183 parking spaces. Atrium was developed in 2009 by Arkad Invest, which also sold the 25,000 sqm Green Park office building in Katowice to M7 last year.

Avison Young provided technical advice for M7 for this latest transaction.

M7 CEREF II is focused on value-add offices and industrial opportunities in Central European markets, including Poland, Hungary, Croatia and the Czech Republic. Its target size is app. EUR 150–200 mln.

The major Central European economies have continued to grow strongly over recent years and this particular asset, while in line with our strategy of investing in offices with upside potential through active asset management, also benefits from a defensive income profile and diversified occupier line up. The acquisition is also reflective of our ability to execute transactions in more challenging situations. We are seeing a structural shift in the Central European office and logistics markets, particularly in expanding urban centres where vacancy rates have significantly reduced due to limited supply. This is leading to strong rental growth that we are seeking to access on behalf of our investors.
Katarzyna Parkot, the Poland managing Director of M7

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