Arkonska Business Park, a mainly office property that has been acquired by Cromwell European REIT. (Photo: Google Maps)

The manager of Cromwell European REIT has appointed Shane Hagan as its Chief Financial Officer (CFO).

Hagan is an industry who has held various senior appointments, including as CFO of another Singapore-listed REIT that was then known as Cambridge Industrial Trust.

Prior to that, he was CEO of Soilbuild Business Space REIT, and has held CFO positions at Mapletree Commercial Trust, and Lippo Malls Indonesia Retail Trust.

“He is a veteran in the industry, having held key positions in various S-REITs since 2003, when the sector was still in its infancy”, said Simon Garing, CEO of Cromwell European REIT’s manager.

“I’m sure he will build on the momentum that we have achieved and continue our responsible capital management strategy to maximise risk-adjusted returns to CEREIT’s unitholders”, he added.

Hagan succeeds Daniel Donner, who will be returning to Cromwell Property Group, the sponsor of Cromwell European REIT.

Cromwell European REIT last changed hands on the Singapore Exchange at EUR0.50.

By Shariffa Al-Habshee

Shariffa joined REITsWeek in 2017, and monitors Asia-Pacific REITs for the publication.