IREIT Global (“IREIT” or the “Fund”) is the first REIT set up with the investment strategy of investing in a portfolio of income-producing office-related real estate in Europe. 0.88 per device to investors subject to over-allocation of 11.36m systems. The public offer will end on 11 August 2014 at 12pm and begins trading on 13 August 2014 at 2pm. The public tranche will have 11.36m and the positioning tranche 156.373m units. The 4 offices are situated in 4 different cities in Germany and the details of the original portfolio are outlined in the table above. Given the stability of rental income, the financial statements and forecast is predictable which is the beauty of commercial REIT highly.
The Fund is projected to yield 7.6% in FY2014 predicated on annualised basis and increase to 8% in FY2015 and FY2016. The manager will adopt an ABBA strategy where it’ll seek A class properties in B class cities and B Class properties inside a grade towns. The shareholding is 79% controlled by Mr. Tong from Summit and Mr. Lim from Soildbuild with balance 21% float for the public.
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- Eastspring Investments Berhad
- Ceiba pentandra, Bombax ceiba, Bombax valetonii Kapok (Sabah)/Kekabu
- Time limitations mentioned under section 80-IA(4)(iv) have been extended from 31-3-2014 to 31-3-2017
Mr. Tong is actually the Mr S-REIT and he wants to conquer Europe as well now. The offices are situated near commercial establishments and are rented out to blue chip clients such as Deutsche Telecom, T-Mobile, Allianz, Ebase … Read more