IREIT Global: information bulletin as of December 31, 2023

IREIT Global is the first real estate investment trust listed on the Singapore Stock Exchange, with an investment strategy focused on a portfolio of income-generating properties in Europe, primarily intended for office, retail, and industrial purposes (including logistics), as well as related real estate assets. The IREIT portfolio includes 5 office buildings owned in Germany, 5 office buildings owned in Spain, and 44 retail properties in France, with a total leasable area of approximately 446,038 square meters. As of December 31, 2023, the portfolio occupancy rate is 90.4%, and the valuation stands at €899.0 million. IREIT is managed by IREIT Global Group Pte. Ltd., which is jointly owned by Tikehau Capital and City Developments Limited (CDL). Tikehau Capital is a global alternative asset management group listed on the stock exchange in France, while CDL is a leading global real estate company listed on the stock exchange in Singapore.

IREIT was listed on August 13, 2014. The total number of units in circulation is 1,344,837,568, and the market capitalization is S$544.7 million. The financial year ends on December 31. Distribution frequency is semi-annual.

Sale flat in Alicante with city view 426 537 $

Spain,Alicante

2 Bedrooms

2 Bathrooms

100 м²

Rent office in Grenoble 3 417 $

France,Grenoble

2 Bathrooms

313 м²

Rent office in Nice with city view 2 591 $

France,Nice

141 м²

Sale flat in Condom 361 747 $

France,Condom

2 Bedrooms

2 Bathrooms

85 м²

Sale townhouse in Estepona 415 199 $

Spain,Estepona

3 Bedrooms

2 Bathrooms

157 м²

Sale townhouse in Costa del Sol 970 778 $

Spain,Costa del Sol

2 Bedrooms

2 Bathrooms

295 м²

The DPU for 2023 / Yield is 1.87 euro cents / 6.7%. IREIT Manager: IREIT Global Group Pte. Ltd. Fund Manager: DBS Trustee Limited.

The IREIT portfolio in Germany includes 5 office properties, in Spain - 5 office properties, and in France, there are 44 retail properties. A significant portion of the leased area is in France, where occupancy is at 100%.

Fund financial performance: net real estate income increased 2.3% YoY, income held for distribution decreased 19.2% YoY. Average rental income is 4.9 years.

Capital management: the debt repayment profile as of December 31, 2023, includes the repayment of a loan of 200.8 million euros related to the portfolio in Germany and 14.9 million euros related to Ilumina (to be repaid in January 2024). The covered interest ratio is 7.0x as of January 2024.

IREIT Global Group Pte. Ltd. is based in Singapore and manages a portfolio of IREIT assets, offering stable long-term lease agreements with major tenants.