Cromwell European Real Estate Investment Trust (Cromwell E-Reit) on Tuesday (Oct 18) announced its acquisition of a logistics asset in Copenhagen for 117.4 million Danish kroner (S$22.3 million).

The acquisition consideration represents a discount of 7 per cent to the asset’s independent valuation of 126.2 million kroner as at end-September 2022. Cromwell E-Reit’s manager does not expect the transaction to have a material effect on the Reit’s net tangible assets.