Cromwell, Bouygues form logistics partnership in CEE

Real estate investor and manager Cromwell Property Group has entered into a strategic partnership with Linkcity, part of construction group Bouygues Construction, to invest in the rollout of a portfolio of logistics and light industrial assets in Central and Eastern Europe that will eventually have a gross asset value of approximately €500 million. Bouygues Construction’s affiliate companies will be responsible for the project development, design and construction of the portfolio, while Cromwell Property Group will source the funding and asset-manage the projects upon their completion. Assets representing more than 25 percent of the portfolio have already been identified with the first of them – an 8,000-sqm logistics building – being located in the Czech Republic and scheduled for completion in Q3 2018. This is just the beginning with further schemes located in close proximity to the main cities in the Czech Republic, Slovakia and Poland, commented David Labardin, the CEO of Linkcity Czech Republic.

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