Cromwell Property Group is removing €1.48 billion worth of Polish assets from the €1.83 billion portfolio intended for its Cromwell European Real Estate Investment Trust, at the request of some investors, The Australian reported.

According to the Oct. 19 report, the asset reduction is being done in a bid to improve the yield potential of the REIT, which is again gearing up for a listing on the Singapore bourse.

Wholesale funds that have supported the Europe-focused REIT's proposed IPO reportedly want the matter to be addressed by mid-November.

With the reduction of seven Polish assets, which accounts for about 26.2% of Cromwell European's float portfolio, the REIT will be refocused on a smaller collection of assets in Denmark, France, Germany, Italy and the Netherlands, the paper noted.

Originally, the REIT was supposed to hold a portfolio of 81 European assets, a bulk of which are properties included in the Australia-listed group's €145 million acquisition of Valad Europe in 2015 from Blackstone Group LP's Blackstone Real Estate Partners VI and Valad Europe senior management.

Cromwell Europe's IPO was already scaled down in September when the REIT's target was reduced to €927 million from €1.25 billion. Even after the revision, Cromwell decided to not register the prospectus for the IPO, opting to review its options despite receiving significant investor interest.