I’ve written about the IPO of CEREIT earlier in August when SGX has nodded for it’s ETL.
Cromwell has since lodged it’s preliminary prospectus to listing in SGX and their plans to start trading on 28 September. Being the 14th IPO of 2017, CEREIT is also the largest IPO since Netlink Trust with an offer size of S$2.3 billion. This will also be the first Euro dorminated REIT in Singapore, by which
What type of real estate do they hold?
CEREIT holds 81 properties from a diversified mix across six gateway cities in Denmarm, France, Germany, Italy, Netherlands and Poland which is valued at 1.83 billion euros. Their portfolio consists of office (35%), light industrail assets (33%) and retail (27%). Occupancy rate is ~89%
However, when being compared with the closest REIT (IREIT) which compromises of asset in Europe, CEREIT only has 69.1% of assets that is freehold. IREIT on the other hand