Cromwell E-Reit completes purchase of German properties, sells 12 other assets

Fiona Lam

Published Wed, Mar 25, 2020 · 09:50 PM

Singapore

CROMWELL European Real Estate Investment Trust (Cromwell E-Reit) has completed two deals - the acquisition of three light industrial/logistics properties in Germany and the sale of 12 assets in other European countries - its manager said on Wednesday.

The three acquired properties sit on freehold land in the cities of Pforzheim, Bretten and Königsbach-Stein, all within Germany's third-largest state Baden-Württemberg.

The real estate investment trust (Reit) completed the purchase under a sale and leaseback arrangement. The acquisition cost is about 40.9 million euros (S$63.8 million), comprising the purchase price of 38 million euros, the acquisition fee payable to t…