Cromwell Property Group has sold three office buildings, held in the Equinox portfolio, in the Netherlands for an undisclosed sum.
Cromwell, which manages the portfolio in a joint venture with Angelo Gordon & Co, said it sold the 4,203sqm Oostplein 410 office building in Rotterdam, Wegalaan 35, a 4,217sqm property in Hoofddorp and the 2,333sqm Zeisteroever office in Zeist.
Wouter Zwetsloot, the head of Benelux for Cromwell Property Group in Europe, said: “Since acquiring these properties as part of the Equinox portfolio in 2014, our asset management team has been working hard to complete the business plan for the assets, which was primarily focused on the existing tenants, letting vacant space and repositioning the buildings to improve income and capital values.
“Having successfully completed the sale of these three assets, we will continue to focus our efforts on the four remaining buildings in the portfolio.”
In Benelux, Cromwell Property Group manages €975m of assets across 11 mandates.