SERT offloads Slovakian and Italian assets

Stoneweg Europe Stapled Trust (SERT) has completed a capital recycling initiative by selling its entire logistics and light industrial portfolio in Slovakia for €70.0 mln. 

Slovakia logistics - SERT

This sale represents a 3.5% premium over its June 2025 valuation. Additionally, SERT finalised the sale of an Italian property in Agrate Brianza for €11.4 mln.
These divestments bring SERT close to completing its €400 mln capital recycling program, increasing its focus on Western European markets to approximately 90%. 
Simon Garing, CEO of the Manager, said: “By exiting smaller and less liquid Central European assets, we are sharpening SERT’s focus on core Western European markets with deeper liquidity and stronger tenant demand. Importantly, the proceeds strengthen SERT’s balance sheet - bringing gearing below 40% - and provide flexibility to reinvest in higher-value add investments that can help drive future growth.”
Since 2022, SERT has divested 22 non-strategic assets for €411 mln, achieving an 11% premium to their valuations. These transactions highlight SERT's ability to navigate various market conditions and its commitment to disciplined asset and capital management.
SERT's financial standing has also been bolstered by a Fitch credit rating upgrade to BBB (stable) and the issuance of a €300 mln green bond. As a result, SERT has no debt maturing until 2030 and a weighted average debt expiry of almost six years.
The Slovakian divestment involved the sale of 100% of shares in five property companies, including five logistics and light industrial properties across Žilina, Košice, and Nové Mesto. The Italian divestment, previously announced, has now been fully completed.