Stoneweg Europe Stapled Trust Completes Divestment of Riverside Park, Warsaw: Detailed Investor Update

Key Highlights

• Asset Divestment Completed: Stoneweg Europe Stapled Trust (SERT) has successfully completed the divestment of Riverside Park, an office asset in Warsaw, Poland, on 29 April 2026.
• Transaction Value: The asset was sold for €22.5 million (approximately S\$33.6 million), representing a premium of €1.1 million or about 5.1% above its December 2025 valuation.
• Capital Recycling Strategy: SERT’s management underscores disciplined capital recycling and value crystallisation at a premium, positioning the portfolio for strategic growth.
• Portfolio Repositioning: Proceeds from this divestment will be used to increase exposure to logistics and data centre sectors, and also support opportunistic security buybacks where risk-adjusted returns are compelling.
• Portfolio Composition: SERT’s portfolio is valued at €2.2 billion, comprising over 90 predominantly freehold properties across nine European countries, with more than 60% exposure to logistics, light industrial, and data centres.
• Strategic Investments: SERT is an early investor in AiOnX, a European hyperscale data centre development fund, with €100 million invested via equity and a mandatory convertible loan, tying SERT’s fortunes to the high-growth AI and cloud-services sectors.
• Sponsor Strength: SERT is sponsored by SWI Group, a global investment conglomerate with long-term holdings in digital infrastructure and real estate, including Stoneweg Group which manages €11 billion of assets.
• Public Markets Discipline: About 40% of Stoneweg’s assets under management are in listed mandates, reinforcing high governance and transparency standards.

Details of the Transaction

Stoneweg Europe Stapled Trust announced the completion of its divestment of the Riverside Park office asset in Warsaw, Poland. The transaction, closed on 29 April 2026, fetched €22.5 million (S\$33.6 million based on an exchange rate of 1.49 S\$:1€), exceeding the asset’s latest valuation by €1.1 million or 5.1%. This premium is a strong indicator of SERT’s ability to create and realise value for its investors. The divestment reflects SERT’s disciplined approach to portfolio management and its strategy to recycle capital efficiently.

Andreas Hoffmann, CIO of Stoneweg EREIT Management, commented that the sale not only crystallises value at a premium but also aligns with SERT’s strategy of actively repositioning its portfolio. The proceeds are expected to be directed towards increasing exposure to logistics and data centres—sectors that SERT views as having strong long-term growth prospects. Additionally, the funds may be used for security buybacks where attractive risk-adjusted returns are identified.

Portfolio Overview and Strategic Outlook

SERT’s current portfolio is valued at approximately €2.2 billion, spanning more than 90 properties (predominantly freehold) across major gateway cities in the Netherlands, Italy, France, Poland, Germany, Finland, Denmark, the Czech Republic, and the United Kingdom. The portfolio covers 1.6 million sqm of lettable area and services over 700 tenants, ensuring diversified and resilient income streams.

SERT’s strategic focus is on logistics and data centres, currently comprising more than 60% of its portfolio, with a medium-term goal of increasing this weighting even further. The trust selectively pursues value-add redevelopment opportunities to enhance quality and earnings resilience. The divestment of Riverside Park signals a clear intent to pivot away from lower-conviction sectors and reinforce its leading position in sectors benefiting from AI and cloud-driven demand.

A notable strategic investment is SERT’s early involvement in AiOnX, a European hyperscale data centre development fund with an estimated €30 billion gross development value pipeline. SERT holds a €50 million equity stake (6.6%) and has recently committed an additional €50 million via a mandatory convertible loan, providing both defensive income and long-term growth upside.

Sponsor & Management Strength

SERT’s sponsor, SWI Group (SWICH, listed on Amsterdam Euronext), is a diversified global investment conglomerate. Within digital infrastructure, SWI’s primary growth engine is AiOnX, enabling SERT to benefit from the rising demand for AI and cloud services across Europe. Stoneweg Group, SWI’s real estate arm, manages over €11 billion in assets and supports SERT with institutional-grade sourcing, asset management, and execution capabilities. The sponsor ecosystem is well-aligned, with SWI Group holding a substantial 28% stake in SERT stapled securities and owning the Manager and Property Manager.

SWI Group operates 26 offices in 17 countries, leveraging deep local relationships, efficient deal origination, and disciplined asset recycling to support SERT’s investment and operational goals. Public-markets governance and transparency are reinforced, with about 40% of assets managed in listed mandates, including SERT and Varia US Properties.

Shareholder Information & Price Sensitivity

• Premium Sale: The sale of Riverside Park at a premium to book value is likely to be viewed positively by the market, supporting SERT’s net asset value and reinforcing management’s capital discipline.
• Portfolio Pivot: The strategic shift towards logistics and data centres creates exposure to sectors with robust growth prospects, potentially enhancing future earnings and distributions.
• Security Buybacks: Management’s intention to pursue opportunistic security buybacks may support share prices if executed.
• Risk Factors: Investors should note that the value and income derived from SERT’s stapled securities may fluctuate, and there are no guarantees, as outlined in the trust’s cautionary statements.

Conclusion

The completion of the Riverside Park divestment is a significant event for SERT, demonstrating value creation, disciplined asset recycling, and a strategic focus on high-conviction growth sectors. The announcement contains information that may be price-sensitive and relevant for shareholders, given its implications for SERT’s portfolio composition, earnings trajectory, and capital allocation strategy.

Disclaimer

This article is for informational purposes only and does not constitute an offer, invitation, or solicitation of any securities. It is not intended as investment advice. The value of Stapled Securities and derived income may fluctuate. Investors are advised to conduct their own due diligence and consult with their financial advisers before making any investment decisions. Forward-looking statements in this article are subject to risks, uncertainties, and assumptions; actual outcomes may differ materially from projections.

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