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Cromwell flags $3b office float as it goes capital light

Nick Lenaghan
Nick LenaghanProperty editor

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Cromwell Property Group has flagged plans to carve out and spin off a $3 billion portfolio of Australian office towers into a separate, managed property trust as part of its broader transition into a “capital light” fund manager.

The move to demerge and float its Australian office assets – the mooted trust could hit a market capitalisation of close to $2 billion – comes as the Brisbane-based player accelerates plans to shift its efforts into funds management, while holding co-investment stakes in the vehicles it manages.

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Nick Lenaghan edits the property section, which covers all aspects, from residential real estate and housing and construction to commercial property – office, retail, industrial – and major ASX-listed developers and real estate investment trusts. Connect with Nick on Twitter. Email Nick at nlenaghan@afr.com

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    Original URL: https://www.afr.com/property/commercial/cromwell-flags-3b-office-float-as-it-goes-capital-light-20220224-p59zc2