The manager of Stoneweg European REIT (SERT) announces that the REIT has signed a 20-year lease renewal with its largest tenant, NN Group NV for 28,500 square metre at Haagse Poort in the Netherlands, effective no later than December 2027.

The manager of the REIT has also entered into an agreement for the asset enhancement of the building, which includes the addition of two atria to the buildings net leasable area (NLA), an event space, additional workspace for employees and green spaces.

This lease renewal comes after SERT renewed 27,000 square metres of office leases across two office assets in the Netherlands and Poland on Apr 24. The lease renewals are with a Dutch e-commerce company Coolblue BV, and Motorola Solutions.

The REIT welcomed its new sponsor Stoneweg Icona Capital Platform (Stoneweg) in December.

Stoneweg European REIT was previously known as Cromwell European REIT.

Haagse Poort is a high-rise office building in The Hague. Spanning 68,500 sqm, the 16-storey building has been in SERT's portfolio since listing.

Units in Stoneweg European REIT closed 5 cents higher or 2.315% up at $2.21 on Apr 28.