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

Cromwell European REIT (CEREIT) may currently be facing softness in the office segment of its portfolio, but this situation is largely transitory, said UBS.

The REIT reported its 1Q 2019 results on 13 May, with a 6.3% improvement in its distribution per unit (DPU) year-on-year.

However, CEREIT’s overall occupancy for its office properties declined to 91.8% as at 31 March 2019, from 95.2% as at 31 December 2018.

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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.