Cromwell European Real Estate Investment Trust (CEREIT) has bought a 42,267sqm of office asset in Poland for €88.8m.
CEREIT said it has acquired the fully-let Business Garden business park in Poznań from Vastint Poland.
The property will be managed by CEREIT’s sponsor, Cromwell Property Group, through its integrated European investment management platform.
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.”
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