Cromwell REIT Completes 100M € Private Placement

News about Cromwell European REIT

Cromwell European REIT has completed a private placement and raised 100 million Euros, issuing 232.6 million new units at a price of 0.43 € per unit.

Roughly a third of the proceeds will be used to replenish working capital, following the Reit's recently completed 52.6 million euro acquisition of a logistics park in Italy.

Another 64 million euros will partially fund the Reit's acquisition of 11 properties in the Czech Republic and Slovakia, which is expected to complete before March 31, 2021.

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