German lender DekaBank Deutsche Girozentrale has provided a €100 mln credit facility to Singapore's IREIT Global for its acquisition of five office properties in Germany.
German lender DekaBank Deutsche Girozentrale has provided a €100 mln credit facility to Singapore's IREIT Global for its acquisition of five office properties in Germany.
IREIT Global, the first Singaporean REIT to invest in German properties, announced earlier this week that it had acquired four office buildings in Bonn, Darmstadt, Münster-Nord and Münster-Süd, fully let to Deutsche Telekom, as well as the Concorpark business park near Munich. The latter is let to multiple tenants, including insurer Allianz.
The €225 mln deal is part of the group's strategy to build up a portfolio of office assets in Europe. The acquisition in Germany is IREIT's first European foray since going public in mid-August.
Law firm Ashurst advised DekaBank on the deal. Dentons acted for IREIT Global on all transactions.
