Cromwell European REIT Review @ 23 November 2023

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Basic Profile & Key Statistics

Main Sector(s): Office, Industrial & LogisticsCountry(s) with Assets: Netherlands, Italy, France, Poland, Germany, Finland, Denmark, Slovakia, Czechia & EnglandNo. of Properties (exclude associate/fund): 111

Key Indicators

Performance Highlight

For YTD 9 months, gross revenue and NPI remain similar YoY. However, distributable income and DPU declined YoY mainly due to higher finance costs, offset by lower tax expenses.

Rental Reversion

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Rental reversion is at 10.6% for 3Q 2023.

On 6 October, CEREIT divested Viale Europa 95 at a 14.6% premium to the purchased price. 

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Development of Nervesa 21 is on track to be completed in 1Q 2024 while the Lovosice ONE

Industrial Park I in The Czech Republic and Nove Mesto ONE Industrial Park I / III in Slovakia are

largely completed and close to 50% and 60% pre-let. Maxima is currently under strip out works.

Related Parties Shareholding

REIT Sponsor’s Shareholding: ± 10% from medianREIT Manager’s Shareholding: Below median by 20% or moreDirectors of





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