Cromwell flags $3b office float as it goes capital light
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.
Subscribe to gift this article
Gift 5 articles to anyone you choose each month when you subscribe.
Subscribe nowAlready a subscriber?
Introducing your Newsfeed
Follow the topics, people and companies that matter to you.
Find out moreRead More
Latest In Commercial
Fetching latest articles