Singapore's Cromwell E-Reit finalises $90 mln French office buy

Singapore-based Cromwell European Real Estate Investment Trust (Cromwell E-Reit) has finalised the purchase of three freehold office properties in Greater Paris, France.

With a total investment of 80.3 million euros ($90 million), Cromwell E-Reit bought the Lenine asset and acquired all the shares of two companies that hold the Paryseine asset located in the Ivry-sur-Seine office district and the Cap Mermoz asset in Paris.

The Paryseine and Lenine assets are freehold, majority-office properties with a total of 23,066 square metres (sqm) of net lettable floor area, including a 10,024 sqm adjacent three-level warehouse.

Furthermore, the Cap Mermoz asset is a freehold office property comprising 10,720 sqm of net lettable floor area. The latest transaction is part of the company's $277.1 million deal announced last month.