- What CEREIT acquires office park in Poznań for €88.8m
- Why Polish market continues to tempt international investors
- What next Cromwell to asset manage the park
Cromwell European Real Estate Investment Trust (CEREIT) has completed the acquisition of an office park in Poland for €88.8m.
Vastint Poland disposed of the Business Garden business park in Poznań. The 455,000 sq ft property will be managed by Cromwell Property Group.
It is fully-let, with a weighted average lease length of 3.2 years, to several occupiers including CapGemini, GSK, MAN Group, and Santander Group.
Karol Pilniewicz, head of CEE at Cromwell, said: “Poznań is the fifth largest city in Poland and one of the wealthiest, making it a very attractive location for domestic and international occupiers and investment. We are currently experiencing a lot of interest in the Polish market from international and Asian investors in particular.”
