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

Cerberus Singapore Investor LLC’s stake in Cromwell European REIT has increased by 43,319,540 units.

These units were received by Cerberus Singapore pursuant to an equity fund raising exercise that saw Cromwell European REIT execute a 38-for-100 rights issue earlier in the year.

The funds are being used to partly finance the REIT’s acquisition of 23 properties across Europe for EUR384 million (USD437 million).

Read: Cromwell European REIT to acquire 23 properties for EUR384 million

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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.