- IREIT Global (SGX:UD1U)’s recent announcement of a key tenant vacating does not come as a surprise – this risk was well highlighted earlier. The exit timing does coincide with a challenging macro and funding environment, which has resulted in share price pressure.
- - Read this at SGinvestors.io -
Redevelopment of the Berlin Campus
- Berlin Campus to be repositioned as mixed-use urban precinct post exit of the property’ main tenant – Deutsche Rentenversicherung Bund (DRV) – upon its lease expiry at end Dec 2024.
- - Read this at SGinvestors.io -
- DRV will also pay a lump-sum of EUR15.5m in dilapidation costs, equivalent to 16 months of current rent, part of which IREIT Global plans to use for income top-up.
Sponsor/co-investor partnership funding likely.
- Read more at SGinvestors.io.
Singapore Research RHB Securities Research | https://www.rhbgroup.com/ 2024-07-11
Previous report by RHB:
2024-02-26 IREIT Global - A Better 2024 On The Cards; BUY.
Price targets by other brokers at IREIT Global Target Prices.
Listing of research reports at IREIT Global Analyst Reports.
Relevant links:
IREIT Global Share Price History,
IREIT Global Announcements,
IREIT Global Dividends & Corporate Actions,
IREIT Global News Articles