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Cromwell European REIT completes divestment of Polish office asset for EUR15.9 mil

Bryan Wu
Bryan Wu • 3 min read
Cromwell European REIT completes divestment of Polish office asset for EUR15.9 mil
The divestment of Grojecka 5 is consistent with CEREIT’s previously announced strategy to reduce exposure to non-core markets. Photo: CEREIT
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The manager of Cromwell European REIT (CEREIT) (SGX:CWBU) has announced the completion of its divestment of an office asset in Poland for EUR15.86 million ($23.1 million) on March 28.

As part of the divestment, CEREIT entered into a sale and purchase agreement with Solida Capital Europe for the sale of Grojecka 5 (G5) asset in Warsaw, one of the REIT’s six office assets in Poland.

G5 is an office building with 10,864 sqm of net lettable area, 8 floors and 105 parking spaces. It is located in the Jerozolimskie office district in Warsaw, and is highly visible and accessible by car and public transportation.

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