Through its subsidiaries, CEREIT will sell the portfolio by way of an asset sale for the Dutch and Danish assets and by way of a sale of shares of the French companies that own the French assets.
SINGAPORE (Dec 17): Cromwell European Real Estate Investment Trust (CEREIT) is disposing a portfolio of 12 light industrial and logistics properties in the Netherlands, Denmark and France for €65.7 million ($99.1 million), the manager announced Tuesday.
The agreed property sales price of the portfolio represents a 15.2% premium to the original purchase price. It is also a 4.1% premium to the latest market value of the portfolio, based on independent valuations conducted by Cushman & Wakefield Debenham Tie Leung and Colliers International Valuation UK as at June 30, 2019.
