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. At an offering price of $0.88, the projected 2015 yield is 8.0%, far higher than any of the other office REITs on SGX. The Price to Book Value is around 1.13x. 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% with strong tenants such as Deutsche Telekom, Allianz and Microelectronics. ......