Cromwell: German portfolio at Singapore exchange
The Australian Cromwell Property Group has listed the Cromwell European Real Estate Investment Trust (Cereit) in Singapore. It is the first REIT managed in Euro and the first REIT with a diversified pan-European portfolio to be listed at the Singapore exchange. In terms of market value, it is the largest REIT flotation in Asia since 2013. The Cereit IPO portfolio includes 74 assets in Germany and in the Netherlands, France, Italy, and Denmark, with an assessed total volume of €1.354bn. Cromwell had taken over the logistics specialist Valad from Blackstone in early 2015. In preparation of the IPO, the firm was advised on the cross-border transactions by an international, Germany-led team of the law firm of Clifford Chance.
Subscribers to our premium service have access to this article in full as well as to an additional 510,000+ news items: all filterable by topic, company, asset class, city or keyword. In TD Premium you can search for investment deals, leases, current project developments and company news with pinpoint accuracy.
TD Premium is Germany’s leading property information tool that interconnects news, transactions, project data, market and company information in a unique and flexible system.