Cromwell European REIT's target property in Sully, France. (Photo: Google Maps)

Singapore-listed Cromwell European REIT has entered into a share-purchase agreement that will see it acquire three logistics properties in France for a total consideration of EUR21.6 million (USD24.6 million).

The shares, which will be acquired from CDPG Luxembourg S. à r. L. via a Cromwell European REIT subsidiary known as Logistics France 1 SAS, are located in Sully-sur-Loire, Parcay-Meslay, and Villeneuve-lès-Béziers respectively.

The Sully asset has 15,500 square metres of lettable area, and is currently fully let to Inteva Products, a key automotive supplier for the CSA Peugeot group.

To read the full article, please login or subscribe.

By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.