Stoneweg to acquire Cromwell's €3.9 billion European platform
Stoneweg has entered into a binding agreement with Cromwell Property Group (Cromwell) to acquire Cromwell’s European fund management platform and associated co-investments, which totals €3.9 billion of real estate assets under management, for a total consideration of €280 million, subject to closing adjustments and regulatory approvals. Under the terms of the transaction, Stoneweg is acquiring Cromwell’s: 100% interest in Cromwell Europe Limited; 27.8% unitholding in CEREIT, a real estate investment trust listed in Singapore with a €2.2 billion portfolio; 100%...