Real estate investor and manager, Cromwell Property Group (Cromwell) has sold four assets, totalling 29,642 sqm, in separate transactions for €30 million in The Netherlands. The assets were sold on behalf of a capital partner.
The first two assets were multi-tenanted office buildings located in Zwolle and Breda from the Artemis Portfolio. The other two assets are from the Puffin portfolio which includes an office building in Vianen and a mixed-use building located in Nieuwegein.
All four assets are occupied by high-quality and well-known tenants including Capgemini, Brinks, GE Capital and Baker Tilly.
Wouter Zwetsloot, Cromwell’s Head of Real Estate Europe commented, “The disposals ensure excellent returns for both portfolios and demonstrates our ability to create value through our active management initiatives.”
“We will continue to utilise our on-the-ground local country teams to actively seek both acquisition and disposal opportunities that deliver great results for our different investors and capital partners.”
Cromwell was advised in the transaction of the Nieuwegein and Breda assets by Spring Real Estate, the Vianen asset by Ans de Wijn Bedrijfshuisvesting and the Zwolle asset by CBRE.