Cromwell European REIT (CEREIT) has completed $90.21-million purchase of three freehold office properties in France while CapitaLand Commerical Trust has received strong investor interest for its private placement exercise.
Cromwell E-REIT completes purchase of three properties in France
Singapore-listed Cromwell European REIT (CEREIT) has officially completed the acquisition of three freehold office properties in France for €80.30 million ($90.21 million) through its wholly-owned subsidiaries.
The three French properties are located in or near major business districts, Ivry-sur-Seine, La Defense, and Charles de Gaulle Etiolle.
With this, CEREIT’s portfolio comprises of 100 properties in Denmark, Finland, France, Germany, Italy, the Netherlands, and Poland.
CEREIT also raised $169 million in a private placement exercise, proceeds of which will partially fund the acquisition of the French properties.
CapitaLand Commercial Trust raises $162m in private placement
Singapore Exchange Mainboard-listed CapitaLand Commercial Trust (CCT) has officially closed the book-building process raising S$220.00 million ($161.70 million) in gross proceeds for its private placement exercise announced on July 17, 2019. According to CCT, the private placement units saw strong demand from new and existing institutional, accredited and other investors.
The private placement of the units was earlier priced at S$2.043 to S$2.105 ($1.50 to $1.55) per unit for a total of 105.01 million units. However, the final pricing terms have been fixed at S$2.095 ($1.54) per new unit.
CCT will use the proceeds to partially finance the acquisition of 94.90 per cent stake in the Main Airport Center, Frankfurt, among others.