CMC Markets’ Michael McCarthy is not “usually in the real estate investment trust space” but this week he likes Cromwell Properties (CMW).
Last week CMW bought a 9.9% stake in the Investa Office Fund. Dexus Property (DXS) had previously offered a takeover deal of the fund.
“The Dexus/Investa proposal should shake up the sector. I see plenty of potential winning scenarios for CMW shareholders from this development,” McCarthy says.