Post-acquisition, CEREIT’s light industrial and logistics portfolio weighting grows to 41%, in line with the manager’s stated strategy to pivot to a 50% weighing of this sector.
The manager of Cromwell European REIT (CEREIT) has announced on Jan 5 that it has entered into sale and purchase agreements to acquire three logistics in the UK and the Netherlands for EUR57.8 million ($88.4 million).
“Our experienced, on-the-ground team sourced and secured all assets at a favourable blended 5.6% net operating income (NOI) yield and 3.9% below independent valuations on average,” says Simon Garing, CEO of the manager.
