Cromwell European REIT property in Amsterdam, De Ruijterkade 5 (Photo: Google Maps)Cromwell European REIT's property in Amsterdam, De Ruijterkade 5 (Photo: Google Maps)

DBS has initiated coverage on Cromwell European REIT with a ‘Buy’ recommendation.

The bank highlighted the REIT’s exposure to an improving European economy, and real estate with high yield spreads as factors that have elicited the recommendation.

Cromwell European REIT is the first Singapore-listed REIT with a diversified pan-European portfolio.

The REIT invests office, light industrial, logistics and retail assets located in Denmark, Germany, France, Italy, and the Netherlands.

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By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.