The manager of Cromwell European REIT (CEREIT) has announced the acquisition of a freehold logistics asset in the UK for GBP10 million ($18.8 million) on August 4.

This marks the REIT’s first UK acquisition.

“We’ve been studying the UK market for some time and actively looking for accretive opportunities for CEREIT to make our entry, so I am pleased that we, as the manager of CEREIT, are able to deliver on our stated strategy in 2021,” says Simon Garing, the manager’s CEO.

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