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.