Real estate investor and manager Cromwell Property Group has completed the disposal of the Pohořelice Industrial Park in the Czech Republic. The asset was part of the Cromwell European Industrial Fund (CEIF) portfolio.
Located in Pohořelice, a town in the south of the Czech Republic, the 44,444 sqm asset comprises three industrial properties split into one modern logistic building, one fully refurbished cross dock building and one workshop together with assembly unit. With excellent transport links to Austria, Slovakia and the rest of the Czech Republic, the building is ideally suited to companies like its current occupier DHL, which require good quality logistics and distribution space.
Karol Pilniewicz, head of CEE at Cromwell Property Group, commented: “Pohořelice 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.
In CEE, Cromwell manages €981 million 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 million.