Besides the vacant Berlin Campus, IREIT in the same period did not enjoy income from the dilapidation cost paid by the main tenant at the property in 1HFY2024.
IREIT Global has reported a distribution per unit of 0.71 € cents for its 1HFY2025, down 26% y-o-y. The drop was due to the full vacancy of one of its key properties, Berlin Campus, which is being converted from office to hospitality use.
Gross revenue in the same half year ended June was down 27.5% to €26.6 million; net property income down 33.3% to €18 million and income to be distributed to unitholders down 26% to €9.5 million.
