Cromwell European REIT acquires Milan office property for $27.8m

This was after the company divested its commune park in France.

Cromwell European Real Estate Investment Trust (CEREIT) has announced that it has recently completed its $27.8m acquisition of Via Paracelso, an office property located at the Agrate Brianza province of Italy.

In October, CEREIT has divested its park in the Osny city of France, where proceeds from the sale were used to fund the purchase agreement of Via Paracelso.

The Milan asset comprises of eight floors set out within three adjoining blocks across Agrate Brianza’s Colleoni Business Park, where the blocks have been interconnected at various floors.

The property boasts of a high-yielding occupancy, where majority of the income, 50% comes from only three principal tenants. The property is also almost fully let with a weighted average unexpired lease term (WALE) for at least the next four years.

The company expects that the acquisition will increase CEREIT’s exposure to the thriving office market in Greater Milan metropolitan area.

If you've been wondering whether SBR could work for your company — yes, probably.

A lot of the companies we partner with started as readers. They'd been following our coverage for a while, saw their own customers and competitors in it, and eventually asked the obvious question: could we do something with you? The answer is usually yes. The shape of it depends on what you're trying to do.

The options are broader than most people assume — thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. Some partners use one channel; most use a mix. We figure out the right combination by starting with your brief, not with our rate card.

So if the question has been on your mind, here's the easy way to ask it.

We'll tell you honestly whether we can help, and how. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia