SINGAPORE (Feb 28): Cromwell European REIT (CEREIT) is acquiring a light industrial/logistics property in Germany for a consideration of €16.6 million ($25.0 million).

CEREIT will purchase this asset from Nathusius VermögensverwaltungsGmbH& Co. KG and the acquisitions is expected to be completed in April 2020.

The asset is a freehold, light industrial/logistics property totalling 30,557 sqm of net lettable area. It was constructed in 2017 with modern specifications which can easily be repositioned for a multi-tenanted strategy, if required.

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