Australian Investment Manager Cromwell is hoping to purchase the RDI REIT in an effort to grow their funds and expand their business to major European markets. RDI owns properties in the two biggest markets in Europe, the UK and Germany. Shares of RDI rose 12.4% on the news to 145p. “The company [RDI] has been focusing on recycling capital into higher quality assets and sectors supported by structural change such as distribution warehouses, and reducing leverage,” says broker Numis. The UK has seen the value of the retail asset slide over the past couple years due to online shopping. The majority of RDI’s assets in the UK are retail.
