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Sign in Sign up for a FREE subscriptionM7 fund sells business center in Zagreb, Croatia
M7 Real Estate has completed the final sale for M7 Central European Real Estate Fund I (M7 CEREF I) — the 12,900-square-meter (138,854 -square foot) multi-let office building Mani Business Centre to Raiffesen Pension Insurance Company. M7 will continue to asset manage the property on behalf of the new owner.
The sale completes the divestment of M7 CEREF I, a value-add fund comprising a portfolio of 21 logistics, office, and retail assets in key Central European markets, generating total-sale proceeds of €182 million ($208 million).
David Ebbrell, CEO M7, said, “The sale of the Mani Business Centre draws to a close our first dedicated central European fund, which we launched to capitalize on the growth of the major economies in the region, including Prague, Budapest and Zagreb. We are pleased that the Fund has delivered significant returns for our investors, driven largely by the expertise of our asset management team on the ground, who delivered value gro
