Changes to CEREIT Stock Codes
Dear unitholders, Cromwell European REIT Units' various stock codes have been changed with effect from 11 May 2021, following the completion of the 5:1 unit consolidation. Please refer to the table below for the updated information.
|Cromwell REIT EUR||CWBU||SGXC37098255||BL9YQK1|
|Cromwell REIT SGD||CWCU||SGXC37098255||BL9YQM3|
Cromwell European REIT's Pivot towards Logistics SectorAccelerates in 1Q 2021 with Strategic Acquisitions in Two New Markets
- Portfolio of 11 modern logistics assets in the Czech Republic and Slovakia acquired for €113.2 millionat a net operating income (“NOI”) yield of 6.7%, 2.1% below valuation
- 94.6% portfolio occupancy rate, with notable leasing successes in light industrial / logistics sector, and with 59% of headline rent of leases subject to expiries and breaks up to 30 September 2021 de-risked
- 1Q 2021 net property income (“NPI”) of €30.8 million is almost equal to 1Q 2020, the last pre-COVID-19 quarter in Europe
- Positive operating cash flow of €23.5 million – higher than the 1Q 2021 distributable income of €21.7 million
- 38.5% aggregate leverage1, interest coverage ratio of 6.0 times2, low interest cost of 1.72% and long weighted average debt expiry profile of 4.0 years
Our investors are at the forefront of everything we do.
The Manager is committed to ensuring that CEREIT meets expectations of good corporate governance and sustainable business practices while seeking to achieve superior investor performance over the medium and long term.
The Board and the Manager are both proactive with respect to corporate governance and actively review developments to determine which corporate governance arrangements are appropriate for CEREIT and its investors.
The Code of Corporate Governance 2018 is adopted as the REIT's benchmark for corporate governance policies and practices.