Cromwell European REIT (CEREIT) has divested an office asset in Warsaw, Poland for $23.1m. The property, Grojecka 5 (G5), was sold at a 7.5% premium to its latest valuation despite the illiquidity in the Central European real estate markets.
The office building has a net lettable area of 10,864 sqm, eight floors, and 105 parking spaces. Solida Capital Europe acquired the asset, with a portion of the purchase price to be paid at a later date.
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