Cromwell European REIT plans to buy 11 new logistics and light industrial properties in the Czech Republic and Slovakia for €113.2 million ($183.6 million) – slightly below an independent valuation of €115.6 million.

The properties, which have a gross lettable area of 125,435 sq m, are now almost 100% occupied, with WALE of 6.2 years.

Simon Garing, CEO of the REIT manager, says that the acquisitions are in line with the REIT’s stated strategy to increase CEREIT portfolio’s exposure to stable, relatively high-yielding logistics and light industrial assets. 

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