Allianz cuts short Concor Park lease, hands IREIT exit payment

IREIT Global has announced that Allianz subsidiary AP Solutions GmbH will exit its lease at Concor Park campus in Aschheim, Germany, nearly 18 months ahead of schedule.

The exit has triggered a lump-sum termination payment of approximately EUR2.87 million to the Singapore-listed REIT.

The tenant, which occupies space at Concor Park Pinus, Bahnhofstraße 16, 85609 Aschheim, holds an existing lease running until 31 May 2029 but has opted to vacate by 31 December 2027.