Cromwell REIT Acquires 11 Properties in Finland

Finland Finland Cromwell REIT has acquired 11 properties in Finland as part of a 23 property European portfolio.

2018-11-19

Share via e-mail

Cromwell EREIT Management Pte. Ltd., the manager of Cromwell European Real Estate Investment Trust, has announced the acquisitions of 23 properties across five countries in Europe. These comprise 16 properties in the Netherlands, Finland and Poland, two properties in Italy, as well as five properties in France.

The New Properties comprise predominantly office properties, with two located in the Netherlands, 11 located in Finland, and three located in Poland. They are situated on either freehold or freehold-equivalent land in dynamic cities and benefit from very good accessibility to major transport infrastructure, including key airports, railway and train stations, as well as motorways. Collectively, the New Properties have an aggregate net lettable floor area (“LFA”) amounting to approximately 150,235 sqm and an average occupancy rate that stands at approximately 84.5 percent, with a 4.7-year weighted average lease expiry (“WALE”) as at 31 August 2018.

The acquisitions will provide CEREIT with access to the attractive office markets in Finland and Poland, both of which are experiencing robust growth, while strengthening its positions in the Dutch and Italian office markets as well as the French logistics market.




Axel Ohlsson
axel@nordicpropertynews.com




“We Believe That the Volumes Will Stay on a High Level”

Finland Finland Kojamo’s CEO Jani Nieminen tells Nordic Property News about the first year as a listed company and shares his view on the Finnish real estate market.

Genesta Sells Antinkatu I in Helsinki

Finland Finland Genesta sells the office property Antinkatu 1 on behalf of Genesta Nordic Real Estate Fund II (GNRE Fund II) to Schroder Nordic Real Estate Fund.

“The List of Things to Do Is Very Long”

Finland Finland The new Managing Director Kati Kivimäki wants to make Mall of Tripla the greatest mall in the Nordics. She tells Nordic Property News about her vision, the tasks before the opening and whether she sees Swedish Mall of Scandinavia as an inspiration.

Kati Kivimäki Appointed New MD of Mall of Tripla

Finland Finland Kati Kivimäki has been appointed as the Managing Director of Mall of Tripla, the shopping centre that will be opened in Central Pasila in autumn 2019. She will start in the position in the spring.

"Finns See More Risks than Opportunities"

Finland Finland Hemsö has gone on a real spending spree in Finland in recent months – purchasing a portfolio in Turku and the Helsinki Court House for a total of EUR 380M. Head of Finland Jarkko Leinonen tells Nordic Property News of the attraction of Turku, why he prefers to work for a Swedish company and what Hemsö is looking for now.

Hemsö Invests in Turku Technology Properties

Finland Finland Hemsö is acquiring a property portfolio with eight nursing home and health care properties in Turku, Finland, as agreed in a previously announced letter of intent. Hemsö will simultaneously invest and acquire a 34.8-per cent stake in Turku Technology Properties (TTP).

Astel Builds Largest Modular Apartment Project in Finland

Finland Finland Astel, the third biggest house factories’ group in the Baltic countries, will start manufacturing one of the largest prefabricated modular apartment building projects in Finland. The new modular apartment project consists of 300 apartments in 9 apartment buildings with a total living area of 12,030 sqm and the total cost of the project is EUR 24M.

"He Clicks with All of Us”

Finland Finland Cibus Nordic Real Estate’s Chairman of the Board Patrick Gylling on why Sverker Källgården was appointed new CEO, the time since the resignation of the predecessor and how close the first Swedish acquisition is.

Patrizia Sells Helsinki Office to EQ

Finland Finland Patrizia has completed the sale of the Itämerenkatu 5 office building in Helsinki for EUR 41 million. The property was sold to a Finnish investment fund, Special Investment Fund EQ Finnish Real Estate.

Sverker Källgården New CEO for Cibus

Finland Finland The board of directors of Cibus Nordic Real Estate has appointed Sverker Källgården as new CEO of the company.