Stoneweg EREIT to Divest Italian Property For EUR11 Million

MT Newswires

Sep 18

Stoneweg EREIT $(SET.SI)$ agreed to divest Cassiopea 1-2-3 in Agrate, Italy, for 11.4 million euros, according to a Thursday filing with the Singapore Exchange.

The divestment is expected to complete in the fourth quarter of the year, with proceeds to be used towards reducing the REIT's revolving credit facility and for general working capital purposes.

The Agrate property consists of three interconnected buildings with a total lettable area of 11,503 square meters.

Separately, the REIT completed the divestment of Arkonska Business Park in Poland for 7.8 million euros.

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