Cromwell Property Group finalised the €285 million ($463.9 million) sale of its Cromwell Polish retail fund to Star Capital Finance.

The transaction aligns with Cromwell's strategy to streamline operations by divesting non-core investments following the sale of a 50% joint venture retail asset in Ursynów, Poland, in February.

Proceeds from the sales aim to reduce Cromwell's debt substantially, lowering its gearing to about 35%, within its target range of 30-40%.

Jonathan Callaghan, Cromwell's Managing Director and CEO, emphasised the sale's significance in simplifying the business and enabling a focus on core fund and asset management activities.