Cromwell European Real Estate Investment Trust’s off-market divestment of Viale Europa 95 in Bari, Italy, was completed at 94 million euros (S$135.4 million).

The Reit manager on Monday (Oct 9) estimated the sale consideration to represent a 13.1 per cent premium to Viale Europa’s 2017 purchase price of 83.1 million euros. The sale price stands at 28.2 per cent above the asset’s valuation of 73.3 million euros as at end-2022.