Singapore’s sovereign wealth fund has taken a stake in French REIT Cegereal.
Northwood Investors, which held 98.44% of Cegereal’s share capital, sold its shares, representing 40.96% of Cegereal’s capital.
The sale saw institutional investors, including GIC, take 25%.
Northwood Investors now holds 57.48% of Cegereal.
The deal allows Cegereal to continue to keep its status as a French REIT, or Société d’Investissement Immobilier Cotée (SIIC), as Northwood Investors now has less than the 60% limit.
Northwood took over Cegereal in September last year.
The US private equity firm bought the stake from Commerz Real’s HausInvest fund.
The REIT, listed in 2006, holds a portfolio worth €961m ($1bn).
