Cromwell European REIT - Annual Report 2021

Front Cover Page	1
Contents	2
CEREIT Overview	4
FY 2021 Financial Highlights	5
Chair’s letter to Unitholders	6
CEO interview	12
Business model and investment strategy	18
Structure of CEREIT	20
Board of Directors	22
The Sponsor, the Manager and the Property Manager	28
CEREIT’s milestones	34
Manager’s report	36
Investor relations	54
CEREIT property portfolio overview	60
Top 10 properties	62
The Netherlands	72
Italy	76
France	80
Poland	84
Germany	86
Finland	88
Denmark	90
Czech Republic	92
Slovakia	94
UK	96
European property market research	98
Corporate governance	154
Enterprise risk management	187
Sustainability	192
Financial Statements and Other Information	194
Report of the Trustee	195
Statement by the Manager	196
Independent Auditor's report	197
Financial statements	201
Additional information	275
Statistics of Unitholdings	276
Non-exhaustive glossary	278
Corporate information	283
Back Cover Page	284

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