IREIT Global reports 89% portfolio occupancy

Its portfolio was valued at $1.30b (€859.8m) as at 30 September.

IREIT Global reported a portfolio valuation of $1.30b (€859.8m) as at 30 September 2025, with portfolio occupancy at 89.0%.

France remained fully leased, whilst weaker occupancy in Germany continued to influence income performance. More than 60% of leases extend beyond 2030, supporting medium-term visibility.

Aggregate leverage rose to 41.3%, driven by the issuance of $128.4m (€85m) in green notes, bringing gross borrowings to $619.5m (€410.2m).

The weighted average interest rate increased to 3.1% and is expected to reach 4.4% once swaps are fully in place. Interest coverage narrowed to 4.0x, whilst 97.5% of debt remains hedged.

The Berlin Campus redevelopment remains the key factor weighing on near-term distributions. The $249m–S$272m (€165m–€180m) programme commenced construction in Q22025, with the first phase targeted for 2027. Management is in discussions with prospective office tenants, with commitments expected by Q12026.

(1 EUR equals 1.51 SGD)

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