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Let's have a quick dive into this week REITs update from Cromwell European REIT, IREIT Global

S-REITs Recap - Week 27

1 Jul - 7 Jul 2024

Cromwell European REIT

( YTD: -3.52% | 5D: -2.14%)

3 July -  Cromwell European REIT's Portfolio Valuations 0.6% Higher Like-For-Like For The Six Months To 30 June 2024

  • Valuations as at 30 June 2024 rose by 0.6% or €13.1 million as compared to valuations as at 31 December 2023, reflecting stabilising conditions in Europe, supported by lower risk-free rates and improved financing conditions for selective asset classes, and completed development projects. Taking into account the expected capital expenditure to be incurred in the six months ended 30 June 2024, the net valuation adjustment is expected to be relatively flat.

For more information, please click here

IREIT Global

( YTD: -30.86% | 5D: +0.00%)

4 July - Proposed Changes To Management Appointments

  • Mr Louis d’Estienne d’Orves, the existing Chief Executive Officer of the Manager (“CEO”), will be relocating to Asia to assume a senior role in Tikehau Capital (one of IREIT’s joint sponsors) and will relinquish his role as CEO. To enable the Manager to continue leveraging on Mr d’Estienne d’Orves’ experience and knowledge of IREIT, it is intended that he will be appointed as a Non-Executive Director on the Board of the Manager.

  • The Manager is pleased to announce that it has identified Mr Peter Viens as the proposed replacement CEO. Mr Viens is presently a fund manager at Sofidy, a European real estate asset manager which is part of the Tikehau Capital group.

5 July - Results Date

  • The Board of Directors of IREIT Global Group Pte. Ltd., as manager of IREIT Global, wishes to announce that IREIT Global's financial results for the half year ended 30 June 2024 will be released after the close of trading hours on 6 August 2024.

To read the full details click here

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REITracker Highlights
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