Cromwell European REIT’s manager announced a divestment in Helsinki, and an acquisition in Preston, UK.
The divestment of Opus Asset in Helsinki at EUR16.2 million, is at a 20% premium to the 2018 purchase price of EUR13.5 million and a 6.4% premium to the latest valuation of of EUR15.2 million.
The acquisition of the Preston warehouse in UK is at GBP18.9 million.
These two transactions reduce CEREIT’s exposure to Finnish office space to 3.6% from 4.4%, and increase its exposure to industrial and warehouse space to 44%.
