Cromwell European REIT is poised to emerge from a ‘hibernation’ in 2H 2020 given its relatively low gearing, and progress on a proposed Euro-based medium term note (MTN) programme.
These comments were made by CEO of the REIT’s manager, Simon Garing, in a conference call on 17 August to address its 1H 2020 results.
On 14 August, the REIT reported a distribution per unit (DPU) of 1.74 Euro cents for the period, a fall of 14.7% from the corresponding half of 2019.
Related: Cromwell European REIT posts fall in 1H DPU despite income ‘top-up’
Interest misalignment?
The REIT also disclosed that it will be switching its payment mode for its manager's fees to 100% cash, instead of a mix of cash and units as per what was done previously.
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