Cromwell E-Reit regains control of Paris site, to receive compensation from govt

Singapore

FRANCE has agreed to compensate Cromwell European Real Estate Investment Trust (E-Reit) 907,128 euros (S$1.4 million) for the trust's loss of potential rental income from its Paris logistics property since its listing, after the French government's decision to not expropriate the site.

The French government had earlier been mulling whether to take possession of the Reit's Parc des Docks site to develop a hospital, university complex and school, according to the Reit's fourth-quarter results presentation dated Feb 27.