CEREIT divests two office properties in Italy for EUR20.9 million

News about Stoneweg Europe Stapled Trust —
Cromwell European Real Estate Investment Trust (CEREIT) has sold two office properties in Italy for EUR20.9 million ($29.6 million), which is at a blended 7.7% premium to the latest valuations. One of the divested offices is in Venice and the other is in Florence.

Proceeds from the divestments will be used to repay the revolving credit facility and also for other working capital needs.
...read more on The Edge Singapore
Stoneweg Europe Stapled Trust
Price1.460 EUR
NAV2.020 EUR
Yield (4 quarters)9.23%
Gearing41.9%