Divestments weigh on Cromwell European REIT's 9M NPI, down 0.8% YoY
The REIT's NPI for the period was €100.0m ($143.5m).
Divestments impacted Cromwell European REIT’s (CEREIT) net property income in 9M, slipping by 0.8% YoY to €100.0m ($143.5m).
NPI would have increased by 4.4% YoY, excluding divestments and developments.
Divestments, along with higher interest rates, contributed to the REIT’s decline in its 9M distributable income.
Distributable income fell 8.9% YoY to €60.4m ($86.7m).