Simon Garing, CEO of Cromwell European REIT. (Photo: Cromwell European REIT)

REITs usually undertake acquisitions to grow their revenue, but this may not be a sound strategy in the coming quarters given higher interest rates.

This was the assessment provided by the CEO of Cromwell European REIT (CEREIT), Simon Garing, in a recent interview.

He was speaking to REITsWeek to disclose steps that will be taken by the REIT in the next 2-3 years to improve unitholders’ value and drive revenue growth despite the higher interest rate environment.

CEREIT recently reported a record-high portfolio occupancy rate of 96% for its 2H 2022 financial period with overall rental reversion of 5.7% for its FY2022.

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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.