• Cromwell to acquire 19.9% interest in $470 million Australian industrial portfolio
• Acquisition includes purchase of Terre Property Partners management platform
• Transaction to add ~$540 million in AUM, strengthening Cromwell's investment management business

Cromwell Property Group (ASX:CMW) has entered into conditional agreements with Straits Real Estate Pte. Ltd. (SRE), a wholly-owned subsidiary of The Straits Trading Company Limited (SGX: S20), to acquire a 19.9% interest in SRE's Australian industrial portfolio, valued at AUD 470 million, for a total consideration of around AUD 47.6 million. Cromwell will also acquire the portfolio's existing management platform, Terre Property Partners (TPP), for an initial purchase price of AUD 2.0 million with potential deferred consideration based on platform performance. The transaction marks a significant step forward in executing Cromwell's strategy to grow its assets under management (AUM), adding approximately AUD 540 million in AUM, with scope for further portfolio expansion. The seed portfolio comprises seven high-quality industrial assets located across key logistics hubs in Victoria and South Australia, leased to blue-chip tenants. The acquisition of the TPP platform brings deep sector expertise, a strong track record, and a highly experienced team with intimate knowledge of the portfolio. The transaction will be executed in two phases, with Phase 1 expected to settle by 31 December 2025 and Phase 2 comprising a recapitalisation of the seed portfolio. The transaction is consistent with Cromwell's FY26 distribution guidance and is expected to strengthen its platform and create new opportunities to partner with capital providers in the industrial and logistics sector.

The transaction is consistent with Cromwell's FY26 distribution guidance of 3.0 cents per security, with no immediate material change to forecasted earnings.

The strategic partnership with Straits Trading and the acquisition of Terre Property Partners' management platform is expected to augment Cromwell's platform and position the company for long-term value creation in the industrial and logistics sector.