CROMWELL European Real Estate Investment Trust (Reit) has completed its acquisition of a property in Italy, located at 13 Via Jervis, Ivrea, the Reit manager announced on Wednesday night.

It said that the Italian state did not exercise its pre-emption right to acquire the property.

It was previously announced in late April that it was acquiring the freehold office building in Italy for 16.9 million euros (S$27.3 million).

After the acquisition, the number of properties in its portfolio comprises 75 properties.

Units closed on Wednesday at 0.58 euros, up 0.5 euros.