Cromwell Property Group sells four office buildings in 6 weeks in The Netherlands

Real estate investor and manager Cromwell Property Group has sold four office buildings in the Netherlands from funds it asset manages on behalf of Goldman Sachs. The assets totalling 25,417 sqm of lettable space were sold from the Omikron, Zenith and Artemis portfolios. The sales prices were not disclosed.

In Rotterdam, Cromwell sold the 5,867 sqm Alexandrium office building to Van Ettekoven Holding B.V.. The 5,530 sqm Overschiestraat 59 office building in Amsterdam was sold to Lianeo Real Estate. The office building at the Verheeskade 25 in Den Haag of 12,265 sqm was sold to Marie Simon B.V. and the Boris Pasternaklaan 12-20 in Zoetermeer, an office building of 1,755 sqm was sold to Van der Kooy Vastgoed B.V..

Richard den Hartigh, Head of asset management, Benelux, commented: “We selectively refurbished parts of two of the buildings to make them more attractive to new occupiers resulting in more than 3,795 sqm of new leases and 10,156 sqm of renewals.”

Cromwell was advised by De Mik Bedrijfshuisvesting on the Alexandrium sale; JLL on the Overschiestraat transaction; BNP Paribas for the Verheeskade building and ROBSWART Bedrijfshuisvesting for the Boris Pasternaklaan sale.

In the Netherlands Cromwell Property Group manages around 55 assets across 12 mandates with a value of approximately €959 million. In Europe, it manages €3.9 billion of real estate assets and investment capacity across its funds and mandates, encompassing approximately 260 assets and 3,100 tenants. Cromwell’s strength lies in its local real estate expertise drawn from 200+ people in 20 offices across 12 European countries.