Cromwell European REIT (CEREIT) has acquired a light industrial and logistics asset in Italy for EUR19.6 million ($30.6 million). 

The asset is CEREIT’s third logistics asset in Italy. 

According to CEREIT’s manager, the acquisition price represents a net operating income (NOI) yield of 6.5% and is at 6.7% below the asset’s independent valuation of EUR21 million.

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