SERT divests Rome office asset for $51.0m

The sale crystallises 32.3% premium, lifts logistics and industrial exposure

Stoneweg Europe Stapled Trust (SERT) has agreed to divest a non-core office property in Rome for $51.0m (€34.0m), representing a 32.3% premium to its latest independent valuation, according to a filing.

The asset, known as Maxima, was independently valued at $38.6m (€25.7m) as at 30 June 2025. The divestment was executed through a simultaneous binding offer and closing, as part of the trust’s capital recycling programme to reduce office exposure and redeploy capital into logistics and light industrial assets.

Following the transaction, total divestments completed in 2025 reached $210.0m (€140.0m) at a blended 5.6% premium to valuation. Cumulative divestments since 2022 amounted to $613.7m (€409.1m) at an average premium of 11.0%, the manager said. At an average net gearing of about 40%, these premiums translated into an estimated 18% uplift at the equity level.

The sale increases the trust’s exposure to logistics, light industrial and data centre assets to 58.7% of portfolio value, while reducing Italy’s contribution from 18% to 17%. Net gearing is expected to remain within the manager’s medium-term target range of 35% to 40% by year-end, following the application of proceeds towards debt reduction, working capital and reinvestment opportunities.

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