Cromwell E-Reit dips toes into data centres; sponsor, EXS set up new fund

Singapore

CROMWELL European Real Estate Investment Trust (Cromwell E-Reit), whose current portfolio is mostly made up of office and light industrial or logistics properties in Europe, is now planning to make its foray into the data-centre business.

On Monday, its manager said the trust has inked a heads of terms agreement with its sponsor Cromwell Property and Stratus Data Centres, to co-invest directly into 50 per cent stakes in two European data centre projects, subject to various milestones.