As mentioned in an earlier post, IRET Global will be the first SREIT in Singapore to feature European assets. The assets are all freehold office assets located in Germany. Given an 8% projected yield for 2015, it actually looks pretty attractive.
IREIT Global IPO
Offering Price: $0.88
Industry: Office
REIT
Projected 2015 Yield : 8.0%
Leverage: 33.2%
P/Net Asset Value: 1.13x
Weight Average Lease to Expiry: 7.6 years
Offer Ends: 11 Aug 2014, 12pm
The 4 offices are located in key German cities Bonn, Darmstadt, Munster and Munich. 2 of them are located close to public transportation, while most of them are actually quite close to city center, making them well located. All of the properties are freehold, so there is no issue with leases running out.
The weight average lease to expiry is actually quite high at 7.6 years. The occupancy is 100% ......
The 4 offices are located in key German cities Bonn, Darmstadt, Munster and Munich. 2 of them are located close to public transportation, while most of them are actually quite close to city center, making them well located. All of the properties are freehold, so there is no issue with leases running out.
The weight average lease to expiry is actually quite high at 7.6 years. The occupancy is 100% ......
