Cromwell REIT Goes East, Buys Czech and Slovakian Assets

News about Cromwell European REIT

Cromwell REIT is announcing the acquisition of a portfolio of light industrial and logistics assets in the Czech Republic and Slovakia.

Assets

The purchased assets are 6 sites in the Czech Republic and 5 in Slovakia, all freehold with 125,435 m² of gross lettable area. All tenanted, they have an average WALE of 6.2 years and a net operating income yield of 6.7%.

Financing

The 113.2 € million purchase price will be financed by internal resource and/or debt.

Expectations

The operation is expected to be DPU accretive and improve the trust geographical diversity while reducing tenant concentration.

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