Stocks to watch: IReit Global
[SINGAPORE] The following company saw new developments that may affect trading of its securities on Tuesday (Sep 8):
IReit Global, a Europe-focused real estate investment trust (REIT), has announced a significant development that could impact the trading of its securities. The company's Berlin RE(O Campus has secured a landmark 25-year lease agreement with Berlin's main public transport operator. This long-term lease will see the REIT lease 39,419 square metres of net lettable area at the Berlin RE(O Campus and establish its headquarters at the asset.
The REIT expects a substantial increase in occupancy from around 25 per cent to approximately 75 per cent at the property. This positive news caused the units of the REIT to rise by 1.8 per cent on Monday, closing at S$0.168 higher than the previous day's closing price at S$0.168.
Written by urgent.news from The Business Times - Companies & Markets's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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