Cromwell European REIT (CEREIT) has completed the acquisition of Cento Logistico Orlando Marconi, a freehold intermodal logistics park in Italy.
The acquisition was announced on Nov 25.
See: Cromwell European REIT to acquire freehold intermodal logistics park in Italy for $84.2 mil
The REIT’s wholly-owned subsidiary, Cromwell Europa 1 completed the acquisition on Dec 23.
The total cost of the acquisition came up to €55.1 million ($89.5 million), which includes the purchase consideration of €52.6 million, the acquisition fee of €0.5 million payable to the manager of the REIT, as well as other fees.
Following the completion of the acquisition, the REIT’s portfolio now comprises 96 properties in Denmark, Finland, France, Germany, Italy, the Netherlands and Poland.
As at 9.03am, units in CEREIT are trading at 47.5 Euro cents.
