The manager of Cromwell European REIT (CEREIT) CWBU has responded to a June 9 media report that claims one of its Milan office properties is set to change hands for close to EUR100 million ($144.62 million).
The story by London-based React News claims CEREIT is set to divest Piazza Affari 2, an office asset in Milan, Italy.
Consistent with the manager’s previously stated strategy to divest non-core and non-strategic assets over the next two to three years, advanced negotiations are in place for the sale of Affari, says the manager of CEREIT in a bourse filing on June 9.
"The manager wishes to emphasise that there is no certainty or assurance that any definitive agreements will be entered into or that any transaction will materialise from the current discussions. The manager will make further announcements... when there is any material development."
Units in CEREIT closed 1 Euro cent higher, or 0.63% up, at EUR1.59 on June 9.
