IReit Global loses main tenant of Berlin Campus

Planned change: People cross a bridge in the middle of Berlin. IReit Global says the precinct would offer maximum flexibility in terms of use types to cater to a range of tenant requirements and notes the potential use as office space and hospitality space. — AP

SINGAPORE: A long-term main tenant of IReit Global’s Berlin Campus will not be extending its lease, which is due to expire on Dec 31, 2024.

On June 24, the Singapore-headquartered real estate investment trust (Reit) manager said the tenant’s lease contributed about 20% of the Reit’s total gross income.