IREIT Global's Bonn Campus (Photo: IREIT Global)

Singapore-listed property developer CDL has acquired stakes in IREIT Global, and its manager via indirect wholly-owned subsidiaries.

Its subsidiary known as City REIT Management has acquired 742,500 ordinary shares and, 15,000 non-voting preference shares in the share capital of IREIT Global Group Pte Ltd, the manager of IREIT Global.

The shares were acquired following a share purchase agreement with Tikehau Investment Management Asia Pacific on 29 April 2019.

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By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.