Square 7 Properties
Square 7 Properties, part of M Core, is Romania's largest retail park owner, developing and managing 25+ convenience-led retail parks across 24+ Romanian cities. It serves international and local retail brands with full-lifecycle real estate services through subsidiaries Squarebox, Switchboard, and Squaretime.
- Company typePrivate
- Founded2006
- HeadquartersBucharest, Romania
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Square 7 Properties does
Square 7 Properties, operating as 'Square 7 part of M Core', is a Romanian real estate investment, development, and asset management company specializing in convenience-led retail parks. Founded in 2006 by Clemens Petschnikar, the company has built a portfolio of 25+ operational retail parks across 24+ Romanian cities from Arad to Iasi, plus Bucharest, with over 150,000 daily visitors. It operates an integrated service platform comprising three wholly-owned subsidiaries: Squaretime (development management from market study through construction delivery), Squarebox (property and asset management for 21 operational parks), and Switchboard (facility management servicing over 60 properties). All Romanian retail assets are unified under the M Park brand, which targets secondary cities with catchment areas of at least 300,000 individuals within a 30-minute drive, with park sizes up to 20,000 square meters.
The company's revenue model is built on three pillars: recurring retail lease income from leasing space to international and local brands (anchor tenants include Lidl, Carrefour, Deichmann, Pepco, H&M, KFC, Leroy Merlin, Starbucks, dm drogerie markt, and JYSK), property and asset management fees through Squarebox, and facility management services through Switchboard. Its go-to-market is direct enterprise sales targeting international retailers seeking expansion in Romanian secondary cities where modern retail supply is limited. Since December 2023, Square 7 has operated as part of M Core, a pan-European retail property collective operating across UK, France, Germany, Spain, Poland, Romania, and Ireland, following M Core's €219 million acquisition of a 25-asset portfolio from Mitiska REIM. The company secured €177 million in financing from Alpha Bank Greece in 2025 to fund continued expansion, including acquisition of Shopping City Suceava, Focsani Shopping Centre, seven MAS retail parks, and development of 18 new Lidl stores. All 25 Romanian retail parks are BREEAM-certified, with ESG commitments including EV charging infrastructure (via Eldrive partnership) and green building standards.
Square 7 Properties firmographics
Firmographics- Name
- Square 7 Properties
- Legal name
- SQUARE 7 PROPERTIES SRL
- Website
- https://square7.ro
- Company type
- Private
- Founded year
- 2006
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Square 7 Properties, part of M Core, is Romania's largest retail park owner, developing and managing 25+ convenience-led retail parks across 24+ Romanian cities. It serves international and local retail brands with full-lifecycle real estate services through subsidiaries Squarebox, Switchboard, and Squaretime.
- Ownership category
- akta.pro rank
Square 7 Properties industry classification
Industry- Product category
- Commercial Real Estate (Retail Parks)
- NAICS
- Real Estate Property Managers (53131), Lessors of Real Estate (5311), Other Activities Related to Real Estate (531390)
- SIC
- Real Estate Agents & Managers (For Others) (6531), Real Estate Operators (No Developers) & Lessors (6510), Land Subdividers & Developers (No Cemeteries) (6552)
- akta.pro primary industry
- Retail Property Management (BPAJAGAB)
- akta.pro secondary industries
- Retail Real Estate Asset Management (BPAJAMAF), Retail Brokerage (BPAJABAB)
Keywords
Where Square 7 Properties is headquartered
LocationHeadquarters
- HQ city
- Bucharest
- HQ country
- Romania
- HQ region
- Europe
Offices1 record
Markets served
Square 7 Properties business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Operations, Personnel, Infrastructure, Marketing or Sales, Technology or R&D, Supply Chain
Revenue model
- Retail lease income: Rental income from leasing retail units to international and local brands in owned shopping parks and retail centers across Romania
- Property management fees: Full property and asset management services including accounting, SPV administration, planning, reporting, treasury, transaction management, leasing management, and tenant relationship management
- Facility management services: Cost-efficient maintenance, repair, and cleaning services provided through Switchboard subsidiary to properties owned by clients
Go-to-market motion1 record
Distribution channels1 record
Marketing channels4 records
Square 7 Properties product offering
Product offeringCore offering
Square 7 Properties invests in, develops, and manages retail parks and integrated commercial spaces across Romania. The company covers the full real estate lifecycle through its subsidiaries: Squaretime handles property development (market study, land acquisition, design, permitting, construction management), Squarebox provides property and asset management for retail parks, and Switchboard delivers facility management including maintenance and cleaning services. Revenue is generated primarily through rental income from leasing retail units to international and local retail brands, supplemented by property and facility management fees.
Product overview
Square 7 Properties, operating as 'Square 7 part of M Core', is a leading real estate investment, development, and asset management company specializing in retail parks and integrated commercial spaces in Romania. The company operates under a multi-brand service structure: Squaretime handles property development from market analysis through construction delivery; Squarebox provides property and asset management services for operational retail parks; and Switchboard delivers facility management including maintenance and cleaning services. All Romanian retail assets are branded under the M Park identity, which represents convenience-led retail parks positioned in smaller and medium-sized cities. The company also manages major mall acquisitions including Focsani Mall and Suceava Shopping City. The M Park network encompasses 25+ assets in Romania with over 150,000 daily visitors, all aligned with ESG commitments including BREEAM certification and green building standards.
Differentiator
Problem solved
Functional benefit
Brands
- Squarebox: Property management company providing full property and asset management services to property investors and owners, including accounting, SPV administration, planning, reporting, treasury operations, and leasing management
- Switchboard
- Squaretime Development
- M Park
Products and services
- Squaretime Development (Property Development Services) Squaretime Development manages the entire project development process for retail projects, from market study and analysis to land search and acquisition, from project design and permitting to construction management, through to delivery of the completed property to investors and tenants.
- Squarebox (Property and Asset Management) Squarebox provides integrated property and asset management services to property investors and owners. The company manages a portfolio of 21 operational retail parks in Romania, offering full management services including accounting, SPV administration, owner representation, planning, reporting, treasury operations, transaction management, leasing management, and tenant relationship management.
- Switchboard (Facility Management) Switchboard provides cost-efficient and high-quality maintenance, repair, and cleaning services to properties owned by clients and their tenants. The company services over 60 individual properties across Romania with permanent service teams assigned to efficiently manage properties within designated areas.
- M Park Retail Park Leasing M Park is Square 7's flagship retail park brand under M Core, representing modern convenience-led retail destinations. The brand offers leasing of retail units in parks with spaces up to 20,000 square meters, strategically positioned in smaller and medium-sized cities targeting catchment areas of at least 300,000 individuals within a 30-minute drive. Tenants include international anchors such as Lidl, Carrefour, H&M, Deichmann, Pepco, KFC, Starbucks, and Leroy Merlin.
Quantifiable outcome
- 150,000+ daily consumers visiting portfolio
- +3 more outcomes
Companies that use Square 7 Properties
Customer profileNamed customers10 records
Segments3 records
Ideal customer profiles2 records
Square 7 Properties technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature2 records
Square 7 Properties partnerships and signals
Strategic signalPartnerships
Seven partnerships are on record, tiered supporting and key.
- Eldrive RomaniasupportingProvider of electric vehicle charging stations installed at M Park Orastie and other developments as part of ESG commitments.
- CollierskeyAdvisory firm providing local market insight and transactional expertise for acquisitions including Suceava Shopping City and Focsani Mall.
- Cushman & Wakefield EchinoxkeyCapital Markets team advised on sale of Focsani Mall from KBC Bank to M Core.
- CMS Cameron McKenna, Schoenherr, DeloittesupportingLegal and financial advisors on acquisitions across Romania.
- Sentient and OptimsupportingTechnical consultancy firms engaged for acquisition due diligence.
- iO PartnerskeyReal estate consultancy company that advised M Core on the €219 million acquisition of 25 retail assets from Mitiska REIM.
- StrabagkeyAustrian general contractor engaged for Giurgiu Shopping Park construction project with gross lettable area of 7,000 sqm.
Scale indicators10 records
Recent moves12 records
Expansion highlights12 records
Square 7 Properties competitors and assessment
Company assessmentDirect peers
- Atrium European Real Estate: Atrium European Real Estate owns and operates shopping centers across CEE including Romania, Poland, Czech Republic, and Hungary. Comparable as a CEE retail-focused landlord with shopping center portfolios in similar geographies.
- NEPI Rockcastle: NEPI Rockcastle is the largest retail real estate platform in Central and Eastern Europe, operating shopping centers and retail parks across Romania, Poland, Hungary, and other CEE countries. Most directly comparable peer given overlapping Romanian retail footprint and CEE retail strategy.
- Iulius Group: Iulius Group is one of Romania's largest real estate developers, operating major regional shopping malls including Iulius Mall network across Iasi, Cluj-Napoca, Timisoara, and Suceava. Comparable Romanian retail developer with similar focus on regional retail destinations.
- Mitiska REIM: Belgian retail real estate investment manager that previously owned the 25-asset portfolio Square 7 acquired for €219M in 2023. Former counterparty and direct peer in the CEE retail park fund management space with overlapping retail park investment strategy.
- AFI Europe Romania: AFI Europe Romania develops and operates shopping centers and retail parks in Romania including AFI Cotroceni and AFI Ploiesti. Direct peer in Romanian retail real estate with similar retail park and shopping center formats targeting Romanian consumers.
- MAS Real Estate: MAS Real Estate was a Western European retail-focused property company that owned retail parks in Romania and sold 7 retail parks to Square 7/M Core in 2025. Direct peer prior to the transaction and representative of the secondary-city retail park model Square 7 pursues.
Broad incumbents
- CTP: CTP is a leading CEE industrial and logistics real estate developer operating across Romania, Czech Republic, Hungary, and other CEE countries. Broader CEE real estate peer with shared regional focus and institutional scale, though focused on industrial rather than retail.
- Globalworth: Globalworth is a leading Romanian and Polish real estate investor and developer primarily focused on office properties but with broader CEE real estate exposure. Comparable as a major Romanian real estate platform with shared institutional capital partners and similar operating geographies.
- CPI Property Group: CPI Property Group is one of the largest real estate groups in CEE, with significant retail exposure through its controlling stake in NEPI Rockcastle. Operates broadly across retail, office, and hospitality in the region as a broader incumbent versus Square 7's focused retail park niche.
Regional players
- Echo Investment: Echo Investment is a major Polish real estate developer focused on retail parks (Echo Galeria and M Park branded assets in Poland, sister brand to Square 7's M Park in Romania). Direct peer under shared M Core ownership with parallel Polish retail park portfolio rather than Romanian.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat5 records
Key risks5 records
Key highlights7 records
Customer concentration
Square 7 Properties social profiles
Digital presenceSquare 7 Properties compliance and trust
Trust signalCompliance1 record
Square 7 Properties financial estimates
Financial estimateRevenue estimate
Valuation estimate
Square 7 Properties leadership team
Management profileNumber of profiles
Profiles5 records
Square 7 Properties subsidiaries and ownership
Company hierarchySubsidiaries3 records
Square 7 Properties funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Square 7 Properties M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Square 7 Properties
What does Square 7 Properties do?
Square 7 Properties invests in, develops, and manages retail parks and integrated commercial spaces across Romania. The company covers the full real estate lifecycle through its subsidiaries: Squaretime handles property development (market study, land acquisition, design, permitting, construction management), Squarebox provides property and asset management for retail parks, and Switchboard delivers facility management including maintenance and cleaning services. Revenue is generated primarily through rental income from leasing retail units to international and local retail brands, supplemented by property and facility management fees.
Is Square 7 Properties a public or private company?
Square 7 Properties is a private company. It is classified as corporate owned and is currently operating.
When was Square 7 Properties founded?
Square 7 Properties was founded in 2006. It employs 11 to 50 people.
Where is Square 7 Properties based?
Square 7 Properties is headquartered in Bucharest, Romania, in the Europe region.
How does Square 7 Properties make money?
Three revenue lines are on record. Retail lease income is the primary driver. The others are property management fees and facility management services.
Who are Square 7 Properties's main competitors?
Direct peers on record are Atrium European Real Estate, NEPI Rockcastle, Iulius Group, Mitiska REIM, AFI Europe Romania and MAS Real Estate. Broad incumbents are CTP, Globalworth and CPI Property Group. Echo Investment is listed as a regional player.
Does Square 7 Properties have an API?
No public API is recorded for Square 7 Properties.
What industry is Square 7 Properties in?
Square 7 Properties's product category is Commercial Real Estate (Retail Parks). Its primary akta.pro industry code is BPAJAGAB, Retail Property Management, with a secondary code of BPAJAMAF, Retail Real Estate Asset Management. Its NAICS code is 53131 and its SIC code is 6531.