“The Slovakian divestment marks the near completion of our EUR400 million capital recycling programme and reflects our continued discipline in optimising the portfolio. By exiting smaller and less liquid Central European assets, we are sharpening SERT’s focus on core Western European markets with deeper liquidity and stronger tenant demand,” says Simon Garing, CEO of the manager.
The manager of Stoneweg Europe Stapled Trust (SERT) has announced that its wholly-owned subsidiary has divested its entire Slovakia investment in logistics/light industrial properties for a total property price of $107.9 million.
This divestment was done via the sale of 100% of its shares held in five Slovakian property companies. The consideration for the divestment is 3.5% above SERT’s June 30 carrying value of the combined net equity value of EUR67.7 million.
