Cromwell REIT Makes Acquisitions and Raises Capital

News about Stoneweg European REIT

Cromwell REIT is announcing a large acquisition of 3 different European properties portfolio for 384.4 € millions, and raising fresh capital with a new rights issue.

The trust is planning to acquire:

  • A portfolio of 16 mostly office properties in the Netherlands, Finland and Poland for a total of 312.5 € millions, with a net initial yield of 6.2%
  • A group of 4 French logistics properties in the greater Paris area, for 34.4 € million, with an initial net yield of 8.5%
  • 2 office properties in Italy, for a price of 37.5 € million, with a net initial yield of 7.4%

Financing will be done through debt and a public rights issue of 224.1 € million, with 38 new units for 100 units held at 0.373 € per new unit.

Unit holders will get to vote on the plan at an EGM organized on November 15.

Stoneweg European REIT
Price1.540 EUR
NAV2.030 EUR
Yield (4 quarters)9.16%
Gearing40.2%

The content offered on this website is provided for informative and educational purpose only and not as an investment advice of any form. It might contain errors or inacuracies and as such, is provided "as is" without any representations or warranties of any kind.