Cromwell Reit forking out 21.6m euros for 3 Paris properties

Singapore

CROMWELL European Reit (E-Reit) is buying three freehold logistics properties in France for 21.6 million euros (S$33.75 million) to gain exposure to the Greater Paris logistics market, said the manager in exchange filings on Monday.

Under the terms of the deal, Cromwell E-Reit will buy from CDPG Luxembourg all of the shares in Challenger DPG France SAS, which holds all three properties. The purchase consideration includes a 1.7 million euro cash injection into the target company for working capital.