Cromwell European REIT buys three logistics assets in U.K. and the Netherlands
Cromwell European REIT (CEREIT) has entered into three separate sale and purchase agreements for the acquisitions of three light-industrial/logistics properties in the United Kingdom and the Netherlands for €57.8 million ($65.49 million). The seller was not disclosed.
The assets are Thorn, Spennymore, Durham, Northeast England, U.K.; in De Immenhorst 7, ‘s-Heerenberg, the Netherlands; and in Rosa Castellanosstraat 4, Tilburg, the Netherlands. The three properties span a total of 65,360 square meters (703,529 square feet) total floor area and are fully let on long-term single leases to high-quality tenant-customers: Thorn Lighting Limited, a global supplier of integral-lighting solutions, Kleertjes.com B.V., an e-retailer, and Agile B.V., a fashion conglomerate.
The acquisitions further build CEREIT’s light-industrial/logistics scale in these markets, bringing CEREIT’s portfolio to 41 percent light industrial/logistics.