IREIT Global's 1H22 Highlights
1H22 revenues and NPI increased more than 25% y-o-y
- IREIT Global (SGX:UD1U)'s 1H22 revenue of EUR30.1m was 27.2% higher y-o-y, mainly due to contribution from acquisitions. Consequently, 1H22 NPI of EUR24.4m was also 26.4% higher y-o-y
Distributable income was 20.4% higher y-o-y
- - Read this at SGinvestors.io -
- As IREIT Global only distributes 90% of its income, distributable income in 1H22 was EUR16.4m, also 20.4% higher y-o-y.
- IREIT Global's 1H22 DPU of EUR0.0141 was however 1.4% lower y-o-y due to 100% of Manager’s Fees being paid in cash in 1H22 (Only 50% of Manager’s Fees was paid in cash in FY21).
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Portfolio occupancy of 95.0% and WALE of 4.7 years
- Six-year lease extension signed by Deutsche Telekom for the entire Bonn Campus. Extension commences in May 2023
- Signed 12-year lease for 5,300 sqm of data centre space (20.4% of property) at Sant Cugat Green.
- Both properties reported a 14.9% (Bonn Campus) and 7.7% (Sant Cugat Green) increase in valuations due to leases signed.
- Read more at SGinvestors.io.
