Simon Garing, CEO of the REIT manager, says that the acquisitions are in line with the REIT’s stated strategy to increase CEREIT portfolio’s exposure to stable, relatively high-yielding logistics and light industrial assets.
Cromwell European REIT plans to buy 11 new logistics and light industrial properties in the Czech Republic and Slovakia for €113.2 million ($183.6 million) – slightly below an independent valuation of €115.6 million.
The properties, which have a gross lettable area of 125,435 sq m, are now almost 100% occupied, with WALE of 6.2 years.
