Cromwell completes sale of five industrial asset portfolio in Finland for EUR11.6m

Real estate investor and manager, Cromwell Property Group (Cromwell) has completed the sale of five industrial assets in Finland for EUR11.6 million on behalf of a capital partner.

With a total net lettable area of 20,000 sq m, the portfolio of multi-tenanted light industrial assets are all located close to Finland’s major metropolitan and industrial areas including Helsinki, Espoo, Tampere and Oulu, ensuring good access to key roads and transport links.

The properties are currently occupied by 28 tenants, including Bosch Rexroth and Oerlikon Balzers Coating Finland.

Pontus Flemme Gärdsell, Cromwell’s Head of Nordics, says: “To have completed the sale of this portfolio so smoothly demonstrates the competitiveness of the market for this asset type, as well as the advantages of having on-the-ground country teams who understand the underlying regional markets.

“We look forward to continuing to seek both attractive acquisition and disposal opportunities that will generate great results for our different investors and capital partners.”

Catella advised Cromwell on the transaction.