Martley Capital divests two logistics centres in Croatia

Martley Capital has sold two logistics centres, Vetel and Koledovčina 2, located near Zagreb, Croatia, to local investors for an undisclosed amount. 

Logistics Croatia

These assets, offering a Gross Leasable Area (GLA) of 21,160 m2, are fully leased to a mix of local and national tenants. Logistics Centre Vetel has a weighted average lease term (WALT) to break of 3.3 years, while Koledovcina 2 has a WALT to break of 1.8 years. Both properties are strategically located near express roads on the outskirts of Zagreb.
Martley Capital acquired the properties in 2021 through its Central European Value Added Fund (CEREF) and focused on increasing rental income through lease agreement restructuring and new leases. While the ownership has changed, Martley Capital will continue to manage the assets.
Martley Capital's country director for Croatia, Mirta Ceranac Poljak, said: “We are pleased to have successfully closed the sale of two properties from our second Central European Fund, launched in 2021. The performance of the assets and the success of the sale reflect our expertise and commitment to delivering returns to our investors.” 
The company sees strong potential in Croatia's industrial and logistics sector and plans to continue investing in Central Europe in 2025. Martley Capital currently manages approximately €900 mln across 28 mandates.
Colliers' data indicates that over 230,000 m2 of new warehouse space is under construction in Croatia, with an additional 565,000 m2 in the planning stages. While Zagreb leads in development, there is increasing interest in industrial zones near Rijeka and Split.