Cromwell Property Group Reports Quarterly Progress; Focused on the ‘Invest to Manage’ strategy

  • Nov 01, 2019 AEDT
  • Team Kalkine

Cromwell Property Group (ASX: CMW) presents quarterly update for the shareholders of the company.

In Australia, the company sold 50 per cent interest in Northpoint Tower for $300 million during the September 2019 quarter along with acquiring 400 George Street in Brisbane for $524.75 million.

In Europe, CMW signed formal binding agreements to acquire all of the third-party investor interests in the Cromwell Polish Retail Fund, which consists of seven catchment-dominating retail centres with a gross asset value of approximately $1 billion.

In Singapore, the Cromwell European Real Estate Investment Trust continued to grow, and the company completed an acquisition of an office asset in Poznan in Poland for Euro 88.8 million. The portfolio now include 102 properties across seven European countries.

 

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