SINGAPORE (Apr 17): Among the top REIT performers since the FTSE ST REIT Index made a low on March 23 is IREIT Global, which owns five office campuses in Ger-many, and a 40% stake in a port-folio of office buildings in Spain. It has risen by 61% in three weeks.

Prior to April 6, Tikehau Capital and City Developments (CDL) held 16.64% and 12.52% of the units in IREIT Global, respectively. Following the purchase of additional stakes in IREIT from Tong Jinquan announced on April 6, Tikehau Capital now owns 29.20% while CDL owns 20.87% of the units in IREIT. A new unitholder, AT Investments, has acquired a 5.50% stake in IREIT. Tikehau and CDL own 50% each of IREIT’s manager.

“Moving from 12% to 20% for CDL and from 16.64% to 29% for us shows a strong commit-ment from both of us,” says Bruno de Pampe-lonne, chairman, Tikehau Investment Management and head of Asia, Tikehau Capital, in a recent interview.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook