Cromwell European REIT to be Renamed Following EUR280 Million Deal

MT Newswires

2024-12-24

Cromwell European Real Estate Investment Trust (SGX:CWBU) is set to be renamed to Stoneweg European REIT with effect from Jan. 2, 2025, a filing with the Singapore Exchange said on Tuesday.

This follows the 280 million euros acquisition of the trust's manager by alternative investment group Icona Capital and real estate investment group Stoneweg.

Under the terms of the deal, Icona Capital and Stoneweg have acquired Cromwell Property Group's entire 27.79% stake in Cromwell European REIT. The deal also involves the full ownership of Cromwell EREIT Management, the trust's manager.

Additionally, Stoneweg Icona Capital Platform has become the new sponsor and a substantial unitholder of Cromwell European REIT.

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