Cromwell REIT to New Buy Italian Logistics Park

News about Cromwell European REIT

Cromwell European REIT plans to acquire a logistics park in Italy for 52.6 million Euros.

Asset

The purchased freehold property, to be completed by the end of the year, has a total leasable area of 156,888 m² and is almost fully rented with over 99% occupancy (and a WALE of 3.7 years). It is located along the A14 / E55 motorway which connects Bari to Bologna.

Financing

The total acquisition cost of 55.1 million Euros is to be paid using cash reserves and debt.

Cromwell European REIT
Price0.470 EUR
NAV0.509 EUR
Yield (4 quarters)7.42%
Gearing36.9%