Cromwell Property Group, the Sydney-listed REIT, has been given the go-ahead by the Singapore stock exchange (SGX-ST) to launch its proposed Cromwell European Real Estate Investment Trust (CEREIT), comprising an AUD 1.8 bn (€1.2 bn) portfolio of European real estate assets.
Morgan Stanley spin-off, Proprium, made a 20-times multiple on its €65 mln equity investment in 2007 in Motel One.
