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Cromwell reaps $276m as it sells Investa stake

People & Companies / Latest News

Australia

Oct 06 2017

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Carolyn Cummins, The Sydney Morning Herald

For the second time in the space of two weeks, Cromwell Property has stepped away from a potential deal, this time exiting its long-held 9.83 per cent stake in the listed Investa Office Fund for $276 million.

Property manager Investa Property Group has bought the 59.3 million securities in the $3 billion Investa Office Fund from Cromwell for $4.65 per security, which is an 18 per cent return on the stake that Cromwell bought in April 2016 at $4.24 per security.

Go to The Sydney Morning Herald and read the full story.

SOURCE: The Sydney Morning Herald

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