Ireit Global announced their Q2 results this evening which I will take a few moments to quickly update their results.
This is a company I've taken the decision to average up, with the latest additions coming up only recently this month. It has also taken over to become my largest position currently in the portfolio.
There's no surprise there with the results as it came in within my expectations.
The revenue and NPI increases double digit year on year due to the acquisitions they made towards the Berlin properties which yielded them an NPI of 7.1%.
The DPU actually came in higher at against their forecast by performing better by 1% but the DPU in Singapore dollar has dropped by 9.1%. The recent weaknesses in the EUR has contributed to this. The sensitivity risk of every 1% drop in the EUR is almost 10% impact there to the ......