INTRODUCTION TO IREIT GLOBAL
IREIT is a Singapore real estate investment trust (“REIT”) established with the investment strategy of principally investing, directly or indirectly, in a portfolio of income-producing real estate in Europe which is used primarily for office purposes, as well as real estate-related assets. With an initial portfolio of four properties in Germany (the “IPO Portfolio”), IREIT is expected to have an initial primary focus on Germany and the United Kingdom.
- IPO Price = S$0.88
- NAV = S$0.78
- Price / NAV = 1.128 –> IPO price is 12.8% Premium to the NAV. (Page 38 of IREIT Global IPO Prospectus)
- Projected DPU Yield = 7.6% (2014), 8% (2015) (Page 14 of IREIT Global IPO Prospectus)
- Total Number of Units Issued = 419,337,000 (Page 38 of IREIT Global IPO Prospectus)
- Total Debt = Euro 95,019,000 (Page 38 of Balance Sheet of IREIT Global IPO Prospectus)
- Total Asset = Euro 290,796,000 (Page 38 of Balance Sheet of IREIT Global IPO Prospectus)
- Gearing Ratio = 32.67%
- WALE = 7.6 Years
- Occupancy Rate = 100%
- Distribution Policy = At least 90% of Annual Distributable Income on Semi Annual Basis. (Page 33)
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See other Singapore REIT Comparison Table here.