CEREIT will remain listed on the Singapore Exchange (SGX:S68
) and does not expect changes to its independent directors and management team.
Cromwell Property Group, sponsor of Cromwell European REIT, has sold its entire 27.79% stake, the REIT manager and property manager to the Stoneweg Group for €280 million ($409.34 million).
Stoneweg is described as a pan-European and US asset management platform now with €4 billion in AUM consisting of various real estate classes.
