Cromwell EREIT Management Pte. Ltd., the manager (the Manager) of CromwellEuropean Real Estate Investment Trust ("Cromwell European REIT" or "CEREIT") announced that it has secured an unconditional leasing commitment for 50% of lettable area of its Via Nervesa 21 Grade-A office redevelopment in Milan, Italy. Via Nervesa 21 office redevelopment is located in the Porta Romana district of Milan, Italy, a vibrant and historically ­ rich area south-east of the city centre.

With much business activity centred around the nearby Policlinico hospital and the renowned Bocconi university, the area is an attractive location for office and mixed-use developments. Via Nervesa 21 is two minutes' walk away from the Brenta Metro station, which provides direct connectivity to the city centre and other parts of Milan. The asset also has direct access to A1 Highway, the Linate Airport and the Central Station.

The tenant-customer, a major communications industry leading MNC, has committed to a long lease term at a competitive market rent rate for approximately 4,350 sqm. As part of its talent acquisition and retention strategy, the tenant-customer plans to design and invest substantially in its future workplace, with collaboration and socialisation in mind to match new and future work styles. Via Nervesa 21 is well-suited for this purpose.