Cromwell REIT Acquires 3 French Properties

News about Cromwell European REIT

Cromwell European REIT plans to buy from CDPG Luxembourg three logistics properties in France for 21.6 million euros. Located in Sully-sur-Loire (near Orléans), Parçay-Meslay (near Tours) and Villeneuve-lès-Béziers (near Béziers), the freehold assets have a Net Initial Yield of 8.5%. The transaction will be funded with equity and debt thanks a to a recent new share issue done by Cromwell REIT.

Cromwell European REIT
Price1.480 EUR
NAV2.080 EUR
Yield (4 quarters)10.60%
Gearing39.7%