IREIT Global (SGX:UD1U) signed a commercial lease agreement with Berlin's main public transport operator, Berliner Verkehrsbetriebe (BVG), to lease 39,419 square meters of space at its Berlin Campus, according to a Monday filing with the Singapore Exchange.
Following the agreement, the real estate investment trust has secured tenants for 75% of the Berlin Campus, taking committed portfolio occupancy to 90.8%.
The lease runs across four successive phases with handovers from Oct. 1, 2028 to Sept. 30, 2030, expiring 25 years from the last handover.
Shares of the REIT surged over 18% in Tuesday trading.
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