Data centres a possibility for Stoneweg European Reit under new sponsor

[SINGAPORE] Stoneweg European real estate investment trust (Sert), which has traditionally had assets in European office and logistics, could explore opportunities in the data centre sector, in line with the expertise of its new sponsor.

Formerly known as Cromwell European Reit, the pure-play European Reit welcomed its new sponsor, SWI Group last December.

Based in Geneva, Switzerland, SWI Group is a partnership between real estate investment group Stoneweg and alternative investment group Icona Capital. The latter conducts private equity transactions and has real estate transactions, including in European data centres.

The new sponsor is a substantial unitholder of Sert and owns 28 per cent of its shares.

In an interview with The Business Times, Jaume Sabater, the group chief executive officer of the sponsor said that SWI Group “fully supports” Sert’s strategy to rebalance its portfolio to focus more on industrial properties and high-quality offices.