Cromwell REIT Sells Three Properties for 22 Million Euros

News about Cromwell European REIT

Cromwell European REIT is announcing the sale of three industrial/logistics properties in Germany and France:

The Manager’s Chief Executive Officer Mr. Simon Garing said, “I am pleased to announce the divestment of three non-core assets in France and Germany, for a total price of €22.01 million (S$30.6 million), a blended €4.85m (+28%) premium to the latest June 2022 valuations2 of €17.15m. The 3 assets formed part of CEREIT’s IPO portfolio five years ago.

Cromwell European REIT
Price1.890 EUR
NAV2.530 EUR
Yield (4 quarters)9.08%
Gearing37.3%