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Cromwell European REIT to acquire freehold intermodal logistics park in Italy for $84.2 mil

Felicia Tan
Felicia Tan11/25/2020 09:57 AM GMT+08  • 2 min read
Cromwell European REIT to acquire freehold intermodal logistics park in Italy for $84.2 mil
The acquisition is expected to be completed in December 2020.
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The manager of Cromwell European REIT (CEREIT) says it has acquired a freehold intermodal logistics park with nine warehouses and a freight railway terminal in Italy for €52.6 million ($84.2 million).

The asset was independently valued at €54.5 million as at Nov 13 by CBRE Valuations S.p.A. (commissioned by CEREIT), using the income capitalisation method.

The consideration is said to be approximately 3.5% below its independent valuation and about 33% below its estimated replacement cost.

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