Cromwell European REIT - Annual Report 2020

Front Cover Page	1
Glossary of Terms	2
Contents	6
CEREIT Overview	8
FY 2020 Financial Highlights	10
Chair’s letter to Unitholders	12
CEO interview	18
CEREIT’s response to COVID-19	24
Business model and investment strategy	26
Structure of CEREIT	28
Board of Directors	30
The Sponsor, the Manager and the Property Manager	36
Cromwell Property Group's European presence	42
CEREIT’s milestones	44
Manager’s report	46
Investor relations	64
CEREIT property portfolio overview	70
Top 10 properties	72
The Netherlands	82
Italy	86
France	90
Poland	94
Germany	96
Finland	98
Denmark	100
European property market research	102
Corporate governance	150
Enterprise risk management	182
Sustainability	187
Financial Statements and Other Information	199
Report of the Trustee	200
Statement by the Manager	201
Independent Auditor's report	202
Financial statements	206
Additional information	277
Statistics of Unitholdings	278
Corporate information	283
Back Cover Page	284

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