Stoneweg Europe Stapled Trust (SERT) has reported a 1.1% increase in the valuation of its portfolio, amounting to $26.3m (€24.9m), as of 30 June 2025. This growth, compared to the valuations on 31 December 2024, is attributed to rising market rents and a compression in terminal cap rates across its properties. The trust’s logistics and light industrial sectors, which now make up 56% of the portfolio, saw a notable valuation gain of $19.8m (€18.7m), reflecting a 1.5% increase.
The office sector also experienced a valuation gain of $5.7m (€5.4m), marking a 0.6% rise. The initial yield for the logistics and light industrial portfolio remains at 6.0%, with a reversionary yield of 6.8%, whilst the office portfolio shows an initial yield of 6.5% and a reversionary yield of 7.7%.
Simon Garing, CEO of the Managers, highlighted the positive impact of proactive leasing and asset management, alongside improving European economic conditions. “Our strategy to pivot the portfolio to majority exposure to the European logistics and light industrial sectors continued to benefit SERT,” he stated.
SERT’s robust portfolio, valued at $2.4m (€2.3m), includes over 100 properties across major European cities, serving more than 800 tenants. The trust aims to sustainably grow distributions and net asset value per stapled security, despite currently trading at a 24% discount to its proforma unaudited June 2025 NAV of approximately $2.11 (€2.00) per stapled security.
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