Real estate investor and manager Cromwell Property Group has completed the disposal of the Pohorelice Industrial Park in the Czech Republic. The asset was part of the Cromwell European Industrial Fund (CEIF) portfolio.
Financial details were not disclosed.
Located in Pohorelice, a town in the south of the Czech Republic, the 44,444 m2 asset comprises three industrial properties divided as one logistic building, one cross-dock building and one workshop with an assembly unit. DHL is the current occupier.
'Pohorelice Industrial Park is a good example of an asset where we have added significant value by working very closely with the tenant, securing a long - term lease renewal, shortly prior the closing,' said Karol Pilniewicz, head of CEE at Cromwell Property Group.
In CEE, Cromwell manages €981 mln of assets across six mandates in the office, retail, industrial and logistics sectors. It also recently entered into a strategic partnership with Linkcity, a member of Bouygues Construction, to invest in the rollout of a portfolio of logistics and light industrial assets in Central and Eastern Europe with a target gross asset valuation of €500 mln.