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Welcome to this Insight magazine edition #48.

In this edition, we explore how best to take advantage of property market cycles. We feature insights from Cromwell’s Chief Financial Officer Michelle Dance, and explore the sectors Cromwell will target following the sale of the European fund management platform. Additionally, we take a look at Cromwell’s ESG results following the release of our latest report and provide an overview of parts 3 and 4 of “The Essential Guide to Investing in Unlisted Property.”

You can stay up to date with the latest Cromwell and market updates by signing up to receive Insight via email each month.

Happy reading!

Feature articles Latest news Market updates Quarterly reports

Feature article

Taking advantage of the property cycle

Understanding the property cycle can be useful for investors, as it enables them to make informed investment decisions and stay focused on their long-term goals.

Latest news

Each month, Cromwell consistently makes progress towards our business goals, which means new and exciting announcements for investors. Insight magazine’s latest news section has the most recent Cromwell developments, and more.

Previous news available here.

Cromwell wins Best Sustainable Finance Deal award

16 Days of Activism

Unitholders Approve Term Extension for Cromwell Riverpark Trust

2024 Tenant Satisfaction Survey Results released

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Cromwell wins Best Sustainable Finance Deal award
16 Days of Activism
Unitholders Approve Term Extension for Cromwell Riverpark Trust
2024 Tenant Satisfaction Survey Results released

Cromwell wins Best Sustainable Finance Deal award

We are pleased to announce that Cromwell has been awarded the Best Sustainable Finance Deal for Australia/New Zealand 2024 by FinanceAsia.

FinanceAsia’s annual Achievement Awards celebrate excellence across Asia’s financial markets, recognising the outstanding achievements of key players in the Asia Pacific and the Middle East. This prestigious award highlights Cromwell’s dedication to sustainability and innovation in finance.

Cromwell won the award for our multi-bank, $1.2 billion Green and Sustainably Linked Loan, which is uniquely aligned with both the Asia Pacific Loan Market Association Green Loan Principles and Sustainability Linked Loan Principles. The loan includes ambitious targets to reduce emissions and our gender pay gap, underscoring our commitment to these critical issues as part of our broader environmental, social, and governance policy.

Read more about Cromwell’s Sustainably Linked Loan click here Cromwell links new loan facility to emissions reduction, gender pay gap targets – Cromwell Property Group.

Read FinanceAsia’s release here: https://www.financeasia.com/article/financeasia-achievement-awards-2024-apacs-best-deals-revealed/499411

16 Days of Activism

We are proud to announce that Cromwell Property Group, as a member of the Champions of Change Coalition, joined the global movement to end violence against women and girls by participating in UN Women Australia’s Safe. Everywhere. Always. campaign.

During the 16 Days of Activism Against Gender-Based Violence (25 November – 10 December), we raised awareness across our assets and hosted the ‘Tools Down’ webinar for tenants, organised by the Property Council of Australia.

This is a national crisis, and we all have a role to play in ending it. The Safe.Everywhere.Always campaign calls for a world where women and girls can live without fear – whether at home, in the workplace, or online. Safety is a non-negotiable human right.

Unitholders Approve Term Extension for Cromwell Riverpark Trust

Unitholders have recently voted to approve a Term Extension Proposal for the Cromwell Riverpark Trust.

Of the 69.69% of unitholders who voted, 88.01% were in favour of extending the Term until 31 December 2026 to allow Energex House to be sold in a more orderly market.

The decision by Cromwell Riverpark Trust Unitholders to extend the term reflects a strategic approach to navigating current market challenges. By allowing more time for market conditions to stabilise and improve, the Trust aims to achieve a more favourable sale price for Energex House. The strong fundamentals of the Brisbane office market, combined with early signs of price stabilisation and potential future decreases in interest rates, support this decision wait, rather than sell into a depressed market.

Cromwell Funds Management remains committed to monitoring the market and will initiate a formal sale campaign when conditions are deemed favourable, aiming to ensure the best possible outcome for unitholders.

2024 Tenant Satisfaction Survey Results released

The results of Cromwell’s annual tenant satisfaction survey have been compiled for FY25 – and the feedback has been encouraging.

Future Forma – an agency specialising in the independent evaluation of tenant–customer experiences across individual assets and portfolios – was engaged by Cromwell in August to conduct annual surveys across our commercial assets.

Across the portfolio, Cromwell achieved an overall tenant satisfaction score of 89%. This is a 1.4% increase on last year’s score, and is 8.9% higher than the Tenant Satisfaction Index – which comprises of 350+ investment grade office building surveys throughout Australia.

Data contained in the Future Forma report will allow us to focus on the continuous improvement of our tenant’s workplace experience and create greater efficiencies in the business’s processes.

Market updates

September 2024 direct property market update

Financial markets remained volatile over the quarter, reflecting participants’ keen focus on the outlook for interest rates. A major event during the…

September 2024 quarter ASX A-REIT market update

The S&P/ASX 300 A-REIT Accumulation Index gave up some of its first quarter gains, falling 5.7% in the June quarter. Property stocks underperformed broader…

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Quarterly Fund Reports

As at 30 September 2024.

Cromwell Direct Property Fund

Cromwell Phoenix Property Securities Fund

Cromwell Phoenix Global Opportunities Fund

Cromwell Phoenix Opportunities Fund

Cromwell Property Trust 12

Cromwell Riverpark Trust

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