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COMMERCIAL PROPERTY | Staff Reporter, Singapore

IREIT Global’s distributable income jumps by 15.4% to $13.5m

On back of a healthy and sizeable portfolio.

Another good year is on the books for the Singapore-listed firm as it has benefitted on expanding its foothold in Germany and its healthy portfolio.

According to a press release by IREIT Global, its distribution per unit (DPU) grew by 14.9% to 1.62 cts, while its gross revenue grew to €8.6 million.

“Together with the DPU of 1.41 Singapore cents achieved for 3Q 2015, a DPU of 3.03 Singapore cents for the period from 1 July 2015 to 31 December 2015 will be paid to unitholders,” the press release said.

Itzhak Sella, chief executive officer of IREIT, said the acquisition of the Berlin campus enabled the company to demonstrate its experience in completing acquisition deals given the competitive market environment.

Meanwhile, the release said IREIT maintains a healthy financial position while remaining focused on maintaining a prudent capital management approach.

“As at 31 December 2015, IREIT’s aggregate leverage ratio was 42.6%, as compared to 43.4% as at the end of the previous quarter,” the press release said.

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