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.
