The last 12 months have been a period of sizable and successful transition for CLS, with the sale of non-core assets, and the reinvestment of capital in core, high yielding assets. That said, the balance sheet is unconstrained which implies that further acquisitions of value-adding real estate assets, and longer-term investments (Paris, Stuttgart, and continued development opportunities along the south bank of the Thames/London), are likely to be a features of 2020, and beyond. CLS is attract ....