ROTTERDAM, 11 November 2019 – Real estate investor and manager Cromwell Property Group (“Cromwell”) has completed the sale of The Mark to Investcorp, a leading global provider and manager of alternative investment products, together with their co-investor and asset manager Proptimize. The Mark is a prominent 22,795 sqm office building located in Rotterdam, the Netherlands. The asset was acquired in 2015 on behalf of the Cromwell Netherlands Diversified Partnership (CNDP).
Since acquiring the building, Cromwell has completed a series of asset management initiatives, starting with a complete re-branding of the building and followed by a comprehensive refurbishment of the general spaces including an upgraded reception area with a new coffee bar, a gym and a meeting centre. As a result of these initiatives, the Cromwell team was able to increase occupancy from 16% to 85% after anchor tenant KPMG left this building, with a series of new lettings to major businesses including Maersk/Damco, Baker Tilly and Schreuder Verzekert, as well as renewals with Pointlogic Development, Willis Towers Watson and Refresco.
Located on Fascinatio Boulevard 200 – 300, along the A-16 motorway in Rotterdam, The Mark is a 13-storey building with 13 occupiers occupying units ranging from 850 sqm to 3,000 sqm.
De Mik Bedrijfshuisvesting and Van Doorne advised Cromwell. Investcorp and Proptimize were advised by Savills, PwC, Paragon and NautaDutilh.
Source: PropertyNL.com
