Cromwell European REIT completes acquisition of Italian freehold intermodal logistics park for $89.5 mil

The REIT’s wholly-owned subsidiary, Cromwell Europa 1 completed the acquisition on Dec 23.

The total cost of the acquisition came up to €55.1 million ($89.5 million), which includes the purchase consideration of €52.6 million, the acquisition fee of €0.5 million payable to the manager of the REIT, as well as other fees.

Following the completion of the acquisition, the REIT’s portfolio now comprises 96 properties in Denmark, Finland, France, Germany, Italy, the Netherlands and Poland.

As at 9.03am, units in CEREIT are trading at 47.5 Euro cents.