Logo from Cromwell EREIT

Cromwell EREIT’s net property income dips 1.1% YoY to $146.7m in 9M23

The REIT attributed the decline to the absence of income from office projects under redevelopment.

Cromwell EREIT posted a 1.1 YoY lower net property income (NPI) of €100.8m ($146.7m) in 9M23.

The REIT attributed the decline in its NPI to the divestment of Piazza Affari 2 in Milan, Italy, the absence of income from office projects currently under redevelopment, and a lower contribution from the non-core Italian assets leased to the Italian government because of a rent reduction provision. 

Given the lower NPI, the REIT posted a 9.2% YoY decline in its income available for distribution to unitholders of €66.3m ($96.5m).

The REIT”s indicative distribution per unit (DPU) likewise declined by 9.2% YoY to €0.11795 ($0.17).

$1 =  €0.69

Follow the link for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!