Stoneweg Europe Stapled Trust Outperforms in 2025 GRESB, Signals Strong Governance and ESG Ambition

Key Takeaways for Investors

• Retains Four-Star GRESB Rating: SERT achieves 85 points in the 2025 GRESB Real Estate Assessment, 8% above the global average and maintains a four-star rating for the third consecutive year.
• Top-Tier Governance and Social Scores: Near-perfect scores in ‘Social’ (17/18) and ‘Governance’ (19/20) categories, indicating robust ESG standards.
• Strong Environmental Progress: Improved environmental score to 48 out of 62, up from 46 last year, surpassing the GRESB average.
• Peer Group Ranking: Ranked 2nd among six European peers in the ‘Diversified – Office / Industrial Listed’ category.
• Continued Recognition: Retained EPRA sBPR gold award for the third year and scored among the Top 5 Singapore entities in the ASEAN Corporate Governance Scorecard.
• SGTI Score: Achieved a robust SGTI score of 103.1, placing 5th among REITs and business trusts in Singapore.
• Portfolio Strength: SERT manages a €2.3 billion, 100+ property portfolio across 10 European countries, with a focus on logistics/light industrial and office assets.
• Strategic Sponsor Backing: Backed by SWI Group, which manages over €10 billion in assets and owns a substantial 28% stake in SERT.

Detailed Analysis: What Investors Need to Know

Stoneweg Europe Stapled Trust (SERT), formerly Cromwell European REIT, has delivered a standout performance in the 2025 GRESB Real Estate Assessment, securing 85 points, which not only retains its prestigious four-star rating but positions it well ahead of the global and peer averages. This achievement underscores SERT’s leadership in environmental, social, and governance (ESG) standards—a key metric for institutional investors and increasingly a driver of share value in the listed real estate sector.

GRESB Performance and ESG Leadership

SERT’s 85-point score is 8% above the global GRESB average of 79. This result is not only a testament to its rigorous operational and reporting standards but also its ongoing commitment to transparency. Within its peer group—six ‘Diversified – Office / Industrial Listed’ European REITs—SERT was ranked 2nd, cementing its reputation as a top-tier performer.

The granular ESG results are particularly notable: SERT achieved near-perfect scores in the ‘Social’ (17/18) and ‘Governance’ (19/20) dimensions, and improved its ‘Environmental’ score to 48 out of 62, up from 46 the previous year and exceeding the GRESB average of 44. This upward trajectory in environmental performance is especially relevant as global investors continue to prioritize decarbonization and sustainability.

Continued Governance Accolades and Transparency

For the third consecutive year, SERT retained the gold EPRA sBPR (Sustainability Best Practices Recommendations) award from the European Public Real Estate Association. This recognition, along with its Top 5 ranking in the ASEAN Corporate Governance Scorecard and strong SGTI score of 103.1, highlights a consistent focus on best-in-class governance and transparency—critical factors for institutional trust and for attracting new capital.

Portfolio and Strategic Outlook

SERT’s investment mandate targets at least 75% of its portfolio in Western Europe and at least 75% in logistics/light industrial and office sectors. Currently, it stands at approximately 86% in Western Europe and 56% in logistics/light industrial, with ambitions to further weight towards this sector. Its €2.3 billion portfolio spans more than 100 properties across key European gateway cities, serving over 800 tenants and covering 1.7 million sqm of lettable area.

The Trust’s asset enhancement and redevelopment initiatives, with an ESG focus, are designed to drive value and resilience, which could positively impact rental yields and long-term asset appreciation.

Strong Sponsor Support and Market Positioning

SERT is sponsored by SWI Group, a leading alternative investment platform managing over €10 billion in assets. SWI’s 28% stake in SERT aligns management and sponsor interests with unitholders. The group’s pan-European footprint and expertise across real estate asset classes provide SERT with significant operational and strategic advantages.

Potential Share Price Sensitivity and Strategic Considerations

For shareholders, SERT’s consistent outperformance in ESG metrics, strengthened governance, and transparent reporting are likely to enhance its appeal to ESG-focused institutional investors, potentially supporting the unit price. The incremental improvements in the environmental score and the continued focus on asset enhancement, especially in logistics and industrial, position SERT to benefit from sectoral tailwinds. Furthermore, robust sponsor backing and a clear medium-term strategy to increase logistics weighting could drive future NAV growth and investor confidence.

However, SERT’s management cautions that the journey toward Net Zero and further ESG improvements will be complex and incremental, reflecting broader industry and regulatory challenges. Investors should note that while ESG outperformance is a positive indicator, broader market conditions and interest rate environments will also play a significant role in share price movements.

About Stoneweg Europe Stapled Trust (SERT)

SERT is a Singapore Exchange-listed stapled group comprising Stoneweg European Real Estate Investment Trust and Stoneweg European Business Trust. It is managed by Stoneweg EREIT Management Pte. Ltd. and Stoneweg EBT Management Pte. Ltd., both wholly owned by SWI Group. Its units are traded under the symbols SET (Euro) and SEB (Singapore dollar).

About SWI Group

SWI Group operates in 15 European countries, as well as the US and Singapore, with more than 300 employees in over 25 offices worldwide. Its investment strategies span real estate, data centres, credit, and financial sectors, emphasizing research-driven and locally executed value creation.

Investor Impact

The latest GRESB results, coupled with SERT’s robust governance and portfolio strategy, are likely to support investor confidence and attract further institutional capital. These developments are potentially price sensitive and could impact the share value positively, especially as global capital flows increasingly favor ESG leaders in real estate.

Disclaimer: This article is provided for informational purposes only and does not constitute an offer, invitation, or recommendation to buy or sell any securities. The value of investments may rise or fall, and past performance is not indicative of future results. Investors are advised to perform their own due diligence and consult with financial advisors before making investment decisions. This article is not intended for distribution in jurisdictions where it may violate applicable laws or regulations.