Cromwell European Real Estate Investment Trust (CEREIT) has acquired two office properties in the Netherlands for €127.6m. The properties will be managed by CEREIT’s sponsor, Cromwell Property Group, through its integrated European investment asset management platform.
Moeder Teresalaan 100-200 is an office building located in the city centre of Utrecht, close to the central business district and two tram stops from Utrecht Central station. It has a lettable floor area of 21,922m² and is currently 86% let to a single occupier. Willemsplein 2 is a predominantly office building located in the Paleiskwartier central business district of Den Bosch, one of the main office districts outside of the Randstad conurbation. The building totals 31,979m² and is currently 98% let to three occupiers.
Wouter Zwetsloot, Head of Benelux at Cromwell Property Group in Europe, commented: “These are both good quality, well-located assets with excellent rental income upside, positioning CEREIT for long-term sustainable growth.”
