Cromwell sells four Dutch office assets for Goldman Sachs

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 total 25,417 m2 of lettable space and were sold from the Omikron, Zenith and Artemis portfolios. The sales prices were not disclosed.

The four buildings are the 5,867 m2 Alexandrium office property in Rotterdam which was sold to Van Ettekoven Holding, the 5,530 m2 Overschiestraat 59 asset in Amsterdam which was divested to Lianeo Real Estate, the building at Verheeskade 25 in The Hague comprising 12,265 m2 which was sold to Marie Simon, and Boris Pasternaklaan 12-20 in Zoetermeer, an office building of 1,755 m2 which was sold to Van der Kooy Vastgoed.

Richard den Hartigh, head of asset management for the Benelux at Cromwell Property, commented: ‘We selectively refurbished parts of two of the buildings to make them more attractive to new occupiers resulting in more than 3,795 m2 of new leases and 10,156 m2 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.

Cromwell Property Group manages around 55 assets across 12 mandates in the Netherlands with a value of approximately €959 mln.

In Europe, it manages €3.9 bn of real estate assets and investment capacity across its funds and mandates, encompassing approximately 260 assets and 3,100 tenants.



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