OVERVIEW OF CEREIT
CEREIT is the first Singapore real estate investment trust (“REIT”) with a diversified Pan-European portfolio, established with the principal investment strategy of investing, directly or indirectly, in a diversified portfolio of income-producing real estate assets in Europe that are used primarily for office, light industrial/logistics and retail purposes, as well as real estate-related assets in connection with the foregoing. The Manager is Cromwell EREIT Management Pte. Ltd., a wholly-owned subsidiary of the Sponsor.

Cromwell European REIT IPO Prospectus

• Type = Office / Light Industrial / Logistic / Retail (Europe)
• Sponsor = Cromwell Property Group (hold about 12.7% of the total number units)
• Total Unit Offered = 1,583,955,000
• Capitalization = Euro 1,814.8 million (based on the Maximum Offering Price)
• Portfolio = 81 (Denmark, France, Germany, Italy, the Netherlands and Poland)
• Portfolio Size @ IPO = Euro 1,834 million (approximately S$2,990 million)
• IPO Offer Price = Between Euro 0.55 to Euro 0.57
• Number of units in issue = 2,192,000,000
• NAV = Euro 0.54
• Price / NAV = between 1.0185  to 1.0555
• Distribution Yield = 7.5% to 7.7%
• Distribution Policy = 100% (until 2019), thereafter (at least 90%). Semi-annual.
• WALE = 5.1 Years
• Tenant > 1000 leases
• Occupancy Rate = 89.3%
• Gearing Ratio = 34.3%
• Plan Listing: September 28, 2017
• Application period = Sept 21 to Sept 26, 2017

Portfolio

REIT Structure

Sponsor

Macro – Eurozone

Cromwell European REIT (CEREIT) IPO Listing Time Table

Compare to other Singapore REITs here.

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