Cromwell European REIT's Green Office at Krakow, Poland. (Cromwell European REIT)Cromwell European REIT's Green Office at Krakow, Poland. (Cromwell European REIT)

Cromwell Property Group is divesting its entire stake in its namesake REIT to Stoneweg Global Platform for EUR280 million.

The sale also involves the sale of Cromwell European REIT’s Singapore manager and Cromwell Europe Limited, which employs over 200 staff in the territories where the REIT’s assets are located.

Stoneweg Global Platform is a Luxembourg-based alternative investment fund sponsored by Stoneweg Group.

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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.