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Allen & Gledhill advised on landmark multi-jurisdictional IPO of Cromwell European REIT
1 Dec 2017

Allen & Gledhill acted as transaction counsel and advised Cromwell EREIT Management Pte. Ltd. (“Manager”), as manager of Cromwell European Real Estate Investment Trust (“CEREIT”), on its initial public offering on the Singapore Exchange (the “Offering”). CEREIT is the first Pan-European REIT and first Euro denominated listing on the Singapore Exchange. CEREIT has a market capitalisation of approximately €865.69 million (S$1,373.85 million) [1] upon listing, which makes it the largest REIT listing in Singapore since 2013 [2].

CEREIT’s portfolio comprises 74 properties located in Denmark, France, Germany, Italy and Netherlands with an appraised value of approximately €1,354 million (S$2,148 million) [1].
 
The Sponsor of CEREIT is Cromwell Property Group, which is an Australian real estate owner and manager and is listed on the Australian Stock Exchange.
 
Advising the Manager were Allen & Gledhill Partners Jerry Koh, Long Pee Hua, Teh Hoe Yue and Aloysius Ng.


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[1] Based on an exchange rate of S$1.578 = €1.00
[2] In terms of market capitalisation
 

 

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