Cromwell E-Reit to dispose of 12 Europe properties

Singapore

CROMWELL European Real Estate Investment Trust (Cromwell E-Reit) on Tuesday said it has entered into a master sale and purchase agreement with entities owned by funds advised by Blackstone affiliates on Dec 16, to dispose of 12 properties located in the Netherlands, Denmark and France.

The agreed property sales price of the portfolio is 65.7 million euros (S$99.2 million), representing a 15.2 per cent premium to the original purchase price; and a 4.1 per cent premium over the latest market value of the portfolio, based on independent valuations.