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Cromwell E-Reit buying 3 German industrial assets for 38m euros

Sale and leaseback agreement with Felss Group subsidiaries raises the size of its Germany portfolio to 157m euros

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Vivienne Tay

Vivienne Tay

Published Fri, Dec 20, 2019 · 09:50 PM

    Singapore

    CROMWELL European Real Estate Investment Trust (Cromwell E-Reit) is acquiring a portfolio of three freehold light industrial/logistics assets in Germany for a purchase price of 38 million euros (S$57 million), the manager said in a regulatory update on Friday.

    The Reit had entered into a purchase agreement and lease agreements with subsidiaries of Felss Group GmbH on Thursday to acquire the portfolio under a sale and leaseback arrangement.

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