Cromwell Property Group (ASX:CMW) has announced the successful completion of its entitlement offer raising about $228 million.
The institutional component of the offer raised about $181 million, while the retail offer raised $46 million.
Cromwell says it is very pleased with the result which exceeded the committed amount of $210 million.
The real estate investor and manager says it will use the funds when value add opportunities present themselves.
Shares in Cromwell Property Group (ASX:CMW) closed per 1 cent lower to $1.01 yesterday.