IREIT Global is facing a legal claim worth EUR8.4 million from its main German tenant over disputed dilapidation costs.
The dispute centres on a EUR15.5 million payment made by Deutsche Rentenversicherung Bund (DRV), the main tenant of IREIT's Berlin Campus property, as compensation for dilapidation costs to reinstate the building to its original state.
This payment was part of a lease extension agreement announced on 14 July 2023, with the tenant extending its lease until 31 December 2024.
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