When it was listed on the Singapore Exchange (SGX) in 2014, IREIT Global was touted as a medium upon which investors can gain exposure to office assets across Germany.
“The robust subscription rate [to its initial public offering]clearly reflects confidence of investors in the quality of our properties, and our attractive value proposition as Singapore’s first pure-play REIT with assets in Germany”, said the REIT then.
But a recent move suggests that the IREIT has departed significantly from its original investment mandate in terms of asset type, and also geographical scope.
The REIT announced in April 2021 that it would be acquiring a portfolio of 27 retail assets across France - marking its maiden venture into the asset class, and country.
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