BlackRock Inc. has sold some of its stake in Cromwell European REIT, according to the REIT manager’s filing to the Singapore Exchange on Dec. 30.
The transaction leaves BlackRock with 4.99 percent of the REIT’s total issued units, down from 5.01 percent previously. The company is no longer considered a substantial unitholder.
Sponsored by Australia-based global real estate fund manager Cromwell Property Group, CEREIT has a €2.6 billion ($2.8 billion) portfolio, which consists of more than 110 properties across Europe and the United Kingdom.
