,Singapore
(L-R) ‘s-Heerenberg, De Immenhorst 7, ‘s-Heerenberg, The Netherlands; Tilburg, Rosa Castellanosstraat 4, Tilburg, The Netherlands; and Thorn, Durham, North East England, the United Kingdom

Cromwell European REIT acquires 3 properties in UK and Netherlands for $88.4m

The properties have a blended NOI yield of 5.6%.

Singapore Exchange-listed Cromwell Eurpreon REIT has acquired three logistics properties in the United Kingdom and The Netherlands for S$88.4m (€57.8m).

The properties acquired were Thorn in Spennymore, Durham, North East England, UK; s-Heerenberg in De Immenhorst 7, ‘s-Heerenberg, The Netherlands; and Tilburg, Rosa Castellanosstraat 4, Tilburg, The Netherlands.

The three properties span a total of 65,360 sqm total floor area and are fully let on long-term single leases with a blended weighted average lease expiry of around eight years. They also have a blended net operating income (NOI) yield of 5.6%.

Cromwell EREIT Management Pte. Ltd, the CEREIT’s manager, said the acquisitions were funded using the cash raised from the CEREIT’s recent issuance of S$100 million perpetual securities and were progressively completed between 17 to 30 December 2021.

The manager said the acquisitions are not expected to have any material effect on CEREIT’s net tangible assets.

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!

The growth was driven by the increase in services inflation.
A new range of collaborative social spaces will make up the structure. 
One measure is the removal of the clickable links in SMSes sent by the bank.
The increase represented increased considerations of 2.1% in cash and 5.8% in shares.
It achieved a 100% sellout in its apartment launches at Yanlord Arcadia.
The institutions will collaborate on payments innovation projects amongst others.
Keppel Corp had the most growth.
It got Asian Infrastructure Investment Bank as its investor.
This optimistic performance is expected to continue until March 2022.
The stock saw a contradicting rise of 51%, despite the STI observing a dip of 4.2% during the period. 
Along with this, the group recommends a green financing bank.
The SGX listed SPAC raised $23.4m from the offering.
They believe crypto's value will increase in the next five years.
ThaiBev had the most growth.