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Cromwell European REIT acquires Czech logistics asset for $16 mil

Atiqah Mokhtar
Atiqah Mokhtar6/7/2021 09:21 AM GMT+08  • 2 min read
Cromwell European REIT acquires Czech logistics asset for $16 mil
The asset is being acquired at an accretive NOI yield of 6.4% with a weighted average lease expiry of 6.5 years.
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Cromwell European REIT (CEREIT) has acquired a logistics asset in the Czech Republic from an affiliate company of CEREIT’s sponsor Cromwell Property Group for EUR10.1 million (approximately $16.4 million).

The asset, located in an established industrial park within Hradec Králové in the north-east of the Czech Republic, is a freehold single-story logistics building with a two-story office section.

The building spans 8,382 square metres (sqm) on a site area of 31,557 sqm, with external areas accommodating 168 outdoor parking spaces.

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