News

Commercial Property

Staff Reporter

, Singapore

Published:

4 years ago

143 views

(L-R) ‘s-Heerenberg, De Immenhorst 7, ‘s-Heerenberg, The Netherlands; Tilburg, Rosa Castellanosstraat 4, Tilburg, The Netherlands; and Thorn, Durham, North East England, the United Kingdom

Cromwell European REIT acquires 3 properties in UK and Netherlands for $88.4m

The properties have a blended NOI yield of 5.6%.

Singapore Exchange-listed Cromwell Eurpreon REIT has acquired three logistics properties in the United Kingdom and The Netherlands for S$88.4m (€57.8m).

The properties acquired were Thorn in Spennymore, Durham, North East England, UK; s-Heerenberg in De Immenhorst 7, ‘s-Heerenberg, The Netherlands; and Tilburg, Rosa Castellanosstraat 4, Tilburg, The Netherlands.

The three properties span a total of 65,360 sqm total floor area and are fully let on long-term single leases with a blended weighted average lease expiry of around eight years. They also have a blended net operating income (NOI) yield of 5.6%.

Cromwell EREIT Management Pte. Ltd, the CEREIT’s manager, said the acquisitions were funded using the cash raised from the CEREIT’s recent issuance of S$100 million perpetual securities and were progressively completed between 17 to 30 December 2021.

The manager said the acquisitions are not expected to have any material effect on CEREIT’s net tangible assets.

Follow the link for more news on

Cromwell European Reit

Acquisitions

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia