Yesterday, on 7 December 2019, IREIT Global did a presentation on a proposed acquisition of office buildings in Spain.
It is a portfolio of four freehold multi-tenanted office buildings in Spain, two in Madrid and two in Barcelona.
A join venture between IREIT Global and Tikehau Capital, the REIT will have a 40% interest.
Total cost of IREIT Global's 40% interest in the joint venture is 57.6 million Euros.
...In early October, I shared my reasons for significantly increasing my investment in IREIT Global.
In that blog, I also said:
"I do not know for sure whether the new management team is going to grow the REIT but it is a reasonable assumption that CDL would not have invested so much in the REIT if they had expected it to stagnate."
Well, IREIT Global is growing.