Cromwell Property Group, the global real estate investment manager, has sold a portfolio of seven regional office buildings totalling more than 24,130 m² for €16.4m from the Cromwell Netherlands Diversified Partnership.
The portfolio comprised the following assets:
- Kalfjeslaan 2, a 4,200 m² building in Delft
- Spazio Offices, Buitenom 243 -269, a 4,456 m² building in Zoetermer
- Blekerstraat 4-6, a 1,944 m² building in Almere
- Watermolenlaan 1 a 4,724 m² building in Woerden
- Printerweg 6, a 2,666 m² building in Amersfoort
- Kronenburgsingel, a 3,909 m² building in Arnhem
- Heliconweg, a 2,681 m² building in Leeuwarden
Wouter Zwetsloot, Head of Benelux at Cromwell Property Group in Europe, commented: “Since taking over the management of these offices in 2015, we have completed several asset management initiatives including refurbishments of both entrances and show rooms, which have resulted in eleven new lettings and several renewals. This transaction is an excellent example of our team’s expertise in improving the value of individual assets as part of a broader business plan to market them as a portfolio.”
Launched in December 2014, Cromwell Netherlands Diversified Partnership invested in Core Plus / Value Add office, industrial and out-of-town retail assets in the Netherlands. The fund comprises good quality, well- located single assets and portfolios, primarily in lot sizes ranging from €10 to €100m.
JLL and van Doorne advised Cromwell Property Group on the sale.
