DTB advised Croatian subsidiary of M7 Real Estate on sale of Mani Business Center
DTB advised the Croatian subsidiary of M7 Real Estate, which completed the sale of the Mani Business Center with 12,900 sq m multi-let office building to Raiffeisen Pension Insurance Company on behalf of M7 Central European Real Estate Fund I. M7 will continue to asset manage the property on behalf of the new owner. The sale completes the divestment of M CEREF I, a value-add fund comprising of a portfolio of 21 logistics, office and retail assets in key Central European markets, generating total sale proceeds of EUR 182 million and an IRR of 25% significantly ahead of the Funds’ business plan.
Commenting the sale Mrs Ceranac Poljak, MD Croatia added: “We are very pleased to have concluded the sale of Mani Business Centre, being the latest asset in CEREF I Fund. The performance of both the Fund and the asset proves our dedication and commitment to professional assets management and has paved the way for our investors to continue their presence and commitment in the region.”
The client was advised by DTB team – Martina Kalamiza (partner) and Marta Hren (associate).