They note that IREIT has confirmed that it will be looking at repositioning the Berlin Campus once Deutsche Rentenversicherung Bund’s (DRV) lease at the property expires on December 31.
DBS Group Research analysts Dale Lai and Derek Tan have maintained “hold” on IREIT Global (SGX:UD1U
) to 33 cents from 44 cents previously.
With positive leasing activity at the Darmstadt Campus, IREIT is expected to post an earnings improvement in FY24, Lai and Tan highlight. Several earnings drivers this year include continued rental indexation, stable financing cost, full-year contribution from the B&M portfolio, as well as higher rents received for the six-month lease extension at the Berlin Campus.
