Real estate investor and fund manager Cromwell Property Group has completed the sale of the Piazza Affari 2 office building in Milan on behalf of Cromwell European REIT (CEREIT). The transaction marks the first major step in CEREIT’s previously stated strategy to divest non-core and non-strategic assets over the next 2-3 years to recycle into CEREIT’s redevelopment and asset enhancement programme. Built in the 1930s and partially refurbished in 2017, Affari is an office building located in the heart of Milan’s CBD with 7,787 m2 of net lettable area, eight floors above ground and two basement levels. It currently holds a BREEAM “Very Good” rating certificate.
Source: https://propertyeu.info/Nieuws/Cromwell-European-REIT-completes-first-major-step-in-non-core-asset-sell-off-strategy/4675ace1-b853-448e-a3ba-7f5fdc9047c1, on 06.07.2023