As per the article
Cromwell European REIT was listed on the SGX in 2017 as an office-heavy REIT.
But at the height of the pandemic in 2020, the REIT announced a pivot towards the logistics segment, given weaker demand for office assets and stronger demand for logistics assets. This was eventually referred to by Simon Garing (CEO) as its first leg.
In late-2022 post-COVID, the REIT announced a “second leg” to this strategy and that is to tap on the demand for premium, Grade A office assets. It will do this by upgrading its assets, rather than acquiring new assets.